Absa mum on future of CEO Daniel Mminele after fallout with board By Hilary Joffe, Makhudu Sefara and Semeyi Zake - 19 April 2021 Absa CEO Daniel Mminele could be out by Wednesday. File photo. Image: SIMPHIWE NKWALI/SUNDAY TIMES
Banking group Absa seems set to lose its highly regarded CEO Daniel Mminele just 15 months into his tenure, with speculation in the market that chair Wendy Lucas Bull and the board are unhappy with changes he wants to make at the bank and could look to part ways with him as early as Wednesday.
It’s understood this follows heated talks last week which failed to yield agreement and were alluded to in a report in Business Report on Friday.
Absa CEO Daniel Mminele steps down due to strategic differences with board
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Most Read Absa CEO Daniel Mminele steps down due to strategic differences with board Mminele and Absa have agreed to a ‘no fault’ separation that will see him exit his role on April 30 due to disagreement over the bank’s strategy BL PREMIUM
UPDATED 20 April 2021 - 14:48
Daniel Mminele, the first black executive to lead Absa, will exit his role as CEO at the end of April, roughly 16 months into the role, due to differences with executives over the strategic direction of the country’s third-biggest banking group by assets.
Absa CEO Daniel Mminele set to leave due to strategic differences with board
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Most Read Absa CEO Daniel Mminele set to leave due to strategic differences with board Mminele and the bank have agreed to part ways and are working on a separation agreement, the lender says BL PREMIUM 20 April 2021 - 07:51 Warren Thompson and Garth Theunissen
Daniel Mminele, the first black executive to lead Absa, is set to leave his position as CEO less than 16 months into the role due to differences with executives over the strategic direction of the country’s third-biggest banking group by assets.