Absa distances itself from Pityana’s allegations
Absa chair Wendy Lucas-Bull has distanced the lender from board member Sipho Pityana’s accusations that the Prudential Authority had acted illegally and blocked his nomination to replace her in 2022.
In her high court filing lodged on Tuesday, Lucas-Bull said Pityana was in a board meeting in September 2020 in which a succession "roadmap" was discussed. This included an engagement with the PA prior to any candidate being nominated, and Pityana had raised no objection to this. It was clear that this was not a substitution of Absa engaging in its own deliberations concerning the appointment of the next chair, she said. ..