Why CEO Mark Barnes walked away from SA Post Office
Barnes resigns over a sharp difference of opinion with government and board over Postbank
The CEO of the SA Post Office, Mark Barnes, resigned over a sharp difference of opinion with the government and the board on their decision to insert a Chinese wall between the Post Office and Postbank, which has applied for a full banking licence.
Postbank is a subsidiary of the Post Office and has its own board. It can accept deposits but under its limited banking licence conditions it cannot lend money.