Absa confirmed that Daniel Mminele is leaving the group on ‘different professional views and perspectives’

By Daiketseng Melke 8 m

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Financial services Absa Group has announced that it and group chief executive Daniel Mminele have reached an agreement for it.

The group said in a statement released on Tuesday afternoon that it would step down on April 30. The bank cited the reason for his departure: “The parties have not been able to achieve alignment regarding the group’s strategy and culture change. Journey”.

Wendy Lucas-Bull, chairperson of the Abs Group, said it was with “regret” that the parties reached this position.

“The board was very excited about Daniel’s appointment and the positive role he was going to play in Abs. She said the division of the way reflects only professional views and perspectives, and is ‘no mistake’.

“The board has conveyed its continuing high regard to Mr. Mamanile for his competence and integrity. The parties believe that this course is in the best interests of the company and Mr. Mamanile. It was a very difficult decision that was not taken lightly, ”said Lucas-Bull.

“Daniel and Abs agree that their interests are best served by this division, with a separate separation system. I would like to thank Daniel for his service, leadership, and the contribution he made during the epidemic in times of great challenge to the group and society.

Mminele confirmed her departure at Absa.

“It is really regrettable that we should have escaped so early on our journey. However, it is important for the chief executive to be in full alignment with the board on important issues such as strategy and culture. I became obsessed with the brave, passionate and willing people of Abs and wish the group good luck for the future.

The board has appointed Jason Quinn, ABSA Group’s financial director, as the Chief Executive Officer of the Interim Group with an Impact of 20.

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