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S.Africa’s Absa board, CEO discussing ‘separation’ -statement

PUBLISHED: Tue, 20 Apr 2021 07:23:33 GMT

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JOHANNESBURG, April 20 (Reuters) – Absa Group CEO Daniel Mminele and the company’s board are working on a “suitable separation agreement” following discussions about their working relationship, the bank said on Tuesday, adding a further announcement would be made later in the day.

Local newspaper Business Day citing sources reported on Tuesday that Mminele was to step down from the role he took less than two years ago due to differences of opinion on the strategic direction of one of Africa’s biggest banks. (Reporting by Emma Rumney; editing by Jason Neely)

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