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Absa’s share price remained unaffected amid an unfolding board spat that saw the financial group yesterday appoint Sello Moloko as chairperson as prominent businessman Sipho Pityana late on Monday launched a surprise legal salvo against not being chosen for the position.
Sipho Pityana served legal papers to the Sarb Prudential Authority citing that the authority blocked him from becoming chairperson of Absa bank by conducting an informal process and consulted with third parties.
Absa has appointed multi-faceted businessperson Sello Moloko as its chairperson-designate a day after bruising allegations against the bank and the banking regulator were made by its initial choice for the post, the equally renowned business and political personality, Sipho Pityana. Absa has ap...
Former Momentum Metropolitan chair Sello Moloko has been appointed as Absa's incoming chairperson to replace Wendy Lucas-Bull in March next year.