Daniel Mminele, the first black executive to lead Absa, will exit his role as CEO at the end of April, roughly 16 months into the role, due to differences with executives over the strategic direction of the country’s third-biggest banking group by assets.

Confirming an earlier Business Day article, Absa said in a statement on Tuesday that the group had reached an agreement with Mminele that would see him step down as a director and group CEO with effect from April 30...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now