BLACK MANAGEMENT FORUM DISMAYED AT RUSSELL LOUBSER'S BUM SPANKING INCIDENT.

The BMF has learnt with shock and dismay media reports attributed to the Chief Executive Officer of the JSE Russell Loubser's "Woman bum spanking" incident during a press conference on transformation of the JSE earlier in the week (see M&G report).

This incident follows a recent report by the Commission for Employment Equity that has indicated a poor representation of women in top management. The appalling incident by Loubser begins to throw some light on the challenges that women in the JSE may be facing.

The indiscretion by Loubser will unfortunately define how some of us will remember him as he hands over the baton to Nicky-Newton King in January, Managing Director of the BMF, Nkumbi-Ndopu said.

The numbness in the reaction of his spokesperson Renata da Silva brings to question whether the code of conduct in the JSE allows for such an abhorrent behavior, furthermore its not clear what to make of the spanked woman, Lisa Steyn's " I am not surprised...." reaction.

The BMF is calling on Loubser to publicly apologise to all the women in South Africa for displaying such chauvinistic behaviour. The BMF is also calling on BUSA and BLSA to rebuke their member publicly and mete out the appropriate sanction as per their code of conduct, said Deputy President of BMF Tembakazi Mnyaka.

Men like Stephen Grootes of 702 Eyewitness News and the editor of Mail and Guardian Nick Dawes will go down in history as people with integrity and exemplary morals for bringing this matter to the open.

Statement issued by Ms Nomhle Nkumbi-Ndopu, Managing Director, Black Management Forum, October 9 2011

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