Absa CEO to stand down, CFO appointed interim chief executive – statement

PUBLISHED: Tue, 20 Apr 2021 13:03:02 GMT
Emma Rumney
A new corporate logo stands outside an Absa Group Ltd. bank branch in Johannesburg, South Africa, on Tuesday, Aug. 7, 2018. Barclays Africa Group Ltd. has ditched the name to revert to Absa Group Ltd. as it severs ties with Barclays Plc, after the London-based company sold down the controlling stake it bought in 2005. Photographer: Waldo Swiegers/Bloomberg via Getty Images

JOHANNESBURG, April 20 (Reuters) – Absa chief executive Daniel Mminele has stepped down from the South African lender and chief financial officer Jason Quinn will replace him on an interim basis with immediate effect, the bank said on Tuesday.

“It has become clear to the parties that there is non-alignment on matters of strategy and culture transformation,” Absa said in a statement, hours after announcing talks around Mminele’s departure.

(Reporting by Emma Rumney Editing by Promit Mukherjee)

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