Mminele, who took over as CEO in January 2020 after 20 years at the Reserve Bank, became the first black person to lead Absa. When he took office, he was tasked by the board with reviewing the strategy Absa had put in place in 2018 after its divorce from UK-based Barclays, and Lucas-Bull had told staff he had an “open mandate”.
On Tuesday afternoon, in the group’s statement after the Sens announcement, Lucas-Bull said: “The board was very excited about Daniel’s appointment and the positive role he was going to play at Absa. It is a matter of considerable regret that we reached this position.