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February will be Maria Ramos’s last month as the CEO of Absa, after 10 years at the helm of the bank, the group announced on Tuesday morning. “She has chosen to retire when she turns 60 in February and is eligible to do so,” Absa’s statement said. “It had never been my intention to stay this long, as I have always believed that a CEO’s tenure should allow for a regular refresh,” Ramos said in a media release.

“My earlier intentions to step down were curtailed by Barclays’s 2016 decision to sell down their controlling stake, a unique set of circumstances that required continuity. So with my coming 60th birthday, I have made the decision to leave the position open for a new CE to lead the group on the next leg of its exciting journey.” The Reserve Bank’s former registrar of banks, René van Wyk, will be interim CEO from March 1 until a permanent appointment is announced. “Maria has been group CE for 10 years and has led the group through significant milestones, including the afte...

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