EDITORIAL: Absa’s struggle for normality
Reports suggest the banking group couldn’t have two black men at the helm as chair and CEO
15 May 2025 - 05:00
There is probably no point to relitigating why Sello Moloko led the process of appointing a new group CEO only to vacate his own position as chair of Absa before his recruit arrives. However, the aftermath of the events calls for a serious reflection among Absa’s stakeholders, especially the board and the regulator.
On Wednesday last week, the banking group announced that Moloko, who had been at Absa for just a short time, would leave to concentrate on his personal businesses and community interests, and he would be succeeded by René van Wyk, an Absa lifer...
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