Absa CEO's resignation lamented

Absa CEO’s resignation lamented
By Ntombi Nkosi
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Johannesburg - Absa confirmed on Tuesday that it had differences of opinion with departing group chief executive Daniel Mminele in their working relationship.
Mminele’s departure has raised questions around the stability of the bank going forward.
Speaking to Independent Media on Tuesday, the Black Management Forum (BMF) said it would engage with the board of Absa to obtain further information and to get a more complete idea of what had actually transpired.
“The Absa Group board and the group chief executive, Daniel Mminele have come to an agreement pursuant to which he has stepped down as a director and group chief executive and will be leaving the group with effect from April 30, 2021. The parties have not managed to achieve alignment in relation to the group’s strategy and the culture transformation journey,” said Absa Group’s head of media relations, Phumza Macanda.

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