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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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Absa CEO Daniel Mminele steps down due to strategic differences with board


Absa CEO Daniel Mminele steps down due to strategic differences with board
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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. ....

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Dispute With Board Sees Absa Bank CEO Depart After 16 Months


Dispute With Board Sees Absa Bank CEO Depart After 16 Months
Bloomberg
1 hr ago
Roxanne Henderson
(Bloomberg) Absa Group Ltd. Chief Executive Officer Daniel Mminele is leaving South Africa’s third-largest bank after a dispute over strategy, ending a 16-month tenure just as the lender looked to bounce back from the Covid-19 crisis.
The board and CEO differed on a range of matters including “structure, operating model, priorities and how you go about implementing them,” Chairman Wendy Lucas-Bull said in an interview on Tuesday. “It’s a lack of ability to get onto the same page.”
Financial Director Jason Quinn will step into the top job on an interim basis, becoming the bank’s fourth leader in less than three years, Absa said in an earlier statement. ....

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Absa CEO Daniel Mminele set to leave due to strategic differences with board


Absa CEO Daniel Mminele set to leave due to strategic differences with board
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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. ....

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Absa confirms CEO Daniel Mminele to step down

Absa confirms CEO Daniel Mminele to step down
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.

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