Absa announces first internal chief executive appointment since 2006 - Arrie Rautenbach has been appointed to head up the banking group more than a year after his predecessor’s sudden departure
on Tuesday that the appointment of Rautenbach, who served as the chief executive of the group’s retail and banking business, would be with immediate effect. Rautenbach is the first internally appointed chief executive since 2006.
“I look forward to working with the board and the executive in consolidating our strategy and performance, driving organisational and cultural transformation, and delivering financial and social value for all our stakeholders, and sustainable future growth and returns for Absa and its shareholders,” he added.
He described his departure as regrettable. “It is, however, important for the chief executive to be in complete alignment with the board on critical issues such as strategy and culture. I became enamoured of the brave, passionate and ready people of Absa and wish the group well for the future,” Mminele said.
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