Standard Bank’s Ben Kruger announces retirement
He will remain a non-executive director of the bank’s Nigerian and UK partnerships with the Industrial and Commercial Bank of China
Ben Kruger, who was appointed Standard Bank’s joint-CEO alongside Sim Tshabalala in 2013, will retire at the end of December.
Standard Bank said in a statement on Friday morning that the group’s retirement age for executives is 60, and Kruger had requested his retirement date be moved forward by a few months.
When Tshabalala became sole Standard Bank CEO in September 2017, Kruger remained an executive director.
Friday’s statement said Kruger will step down from the boards of the overall group and its South African bank, but will remain a non-executive director of its Nigerian and UK partnerships with the Industrial and Commercial Bank of China.
“We are immensely pleased that the group will continue to benefit from his wealth of banking experience and wisdom with Ben continuing to serve on two of the group’s subsidiary boards of directors,” Standard Bank chair Thulani Gcabashe said in Friday’s statement.