Absa to lose first black CEO

post-title

Daniel Mminele is leaving Absa after 16 months as the chief executive officer.

On Tuesday, Absa bank announced that Daniel Mminele, the group’s first black CEO, is leaving due to differences with executives over the strategic direction of the country’s third-biggest banking group by assets.

The Absa board and Daniel are reportedly discussing a “suitable separation arrangement”, the bank announced.

“It is a matter of considerable regret that we have reached this position,” said Absa Group chair, Wendy Lucas-Bull. “The parting of ways merely reflects divergent professional views and approaches and is on a ‘no fault’ basis.”

Daniel’s appointment was announced in January 2020 after Maria Ramos retired as Absa CEO in February 2019. He is the former deputy governor of the Reserve Bank.

Absa Group FD Jason Quinn has been appointed as interim CEO.

Related articles

The next HR transformation is bigger than technology

A successful HR transformation used to mean getting the technology right, embedding new processes and reaching go-live. Today, that is only part of the story. The real challenge is building an organisation that can continue to adapt long after the project is complete.

CHRO Webinar: When HR has no time for HR

HR leaders know where they want to go. The challenge, according to Sage vice-president for medium business, Africa and Middle East Gerhard Hartman, is finding the time and capacity to get there.

Empowering women is an investment in the future of work

Women’s empowerment in the workplace is often discussed in the language of representation, targets and transformation. Those measures matter. But they are not the destination; they are evidence of whether we are changing the conditions in which women enter, grow, lead and succeed. The question is no longer whether organisations can afford to invest in women. It is whether they can afford not to.

Top