EDITORIAL: Absa back to square one as another CEO leaves
Was Daniel Mminele given a fair and fighting chance at the bank and its ‘new’ strategy?
It was a mere six weeks ago that Daniel Mminele presented Absa’s annual results, his first full report, having become CEO just as the previous period ended.
In the press release issued by the bank on March 15, the word “strategy” cropped up 11 times. The bank stated that it had undertaken an in-depth review of what was launched in 2018 “to evaluate execution progress, and to assess relevance given the changes in the operating environment”, alluding to the new reality presented by Covid-19...