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Race not an issue in CEO’s departure, Absa insists Board chair Wendy Lucas-Bull says first black CEO Daniel Mminele left over strategy issues 25 April 2021 - 19:21 Supporters of Daniel Mminele express their feelings over his surprise departure from Absa. The bank has rejected suggestions that race was a factor. Picture: ALON SKUY Absa chair Wendy Lucas-Bull has defended the banking group against perceptions that its first black CEO, Daniel Mminele, was forced out as a result of clashes with white executives. She reiterated on Sunday that his departure was a result of differences about the group’s future strategy, and was not due to any lack of commitment to transformation. ....
Daniel Mminele, Absa Group’s first black CEO, resigned last week. According to Bloomberg, Mminele left the company following a ‘dispute’ over strategy. This has left the Absa’s future hanging in the air, as the third event to plague the bank in recent months, with deputy CEO Peter Matlare passing away earlier this year from Covid-19 complications. More recently, the bank was in the spotlight for pulling off a controversial move; closing their Money Market, sparking surprise from many in the banking and investment community. Bloomberg reports that the company is now facing a dilemma – appoint an internal successor or target an outsider? Interestingly, Mminele was Absa’s third CEO in just two years. – Jarryd Neves ....
25 April 2021 - 05:05 By HILARY JOFFE Last year mining giant Rio Tinto s then CEO Jean-Sébastien Jacques and two executives were forced out by an investor backlash over the company s destruction of Aboriginal people s sacred sites in Australia to expand its flagship iron ore mine. Last month Rio Tinto s chair, Simon Thompson, took the fall for the fiasco too, saying he would step down in the next year. Don t hold your breath for anything like that in SA. Chairs and boards of SA s big companies have it easy when it comes to hiring and firing. This article is reserved for Sunday Times subscribers. ....
Absa's CEO exit creates more than just one headache for lender moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
As CEO Daniel Mminele departs, you've got to wonder i... dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.