Daniel Mminele to leave Absa
Absa CEO Daniel Mminele will leave the banking group, it was announced on Tuesday.
Mminele, who previously served as a deputy governor at the South African Reserve Bank, was the first black executive to lead Absa.
He is set to leave his position as CEO less than 16 months into the role.
The decision to leave Absa is reportedly due to strategic differences with the board.
Absa said in a Sens statement on Tuesday that Mminele and the bank have agreed to part ways and are working on a separation agreement.
“In response to press speculation, shareholders are advised that the boards of directors of Absa Group and Absa Bank and their Group Chief Executive, Mr Daniel Mminele, have been engaged in various discussions surrounding his working relationship with the Boards,” the statement reads.
“Mr Mminele and the Boards are working on a suitable separation arrangement.”
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