Silent swansong for Absa's Maria
Ramos takes back seat as bank issues results, searches for successor
For the first time in a decade, Absa's annual results will not be led by Maria Ramos. And interim CEO Rene van Wyk, 10 days into the job, will also take a back seat when the bank reports next Monday. Instead, CFO Jason Quinn, who has been head of finance for five years, will be taking the reins at the presentation, according to a company insider. Ramos's resignation last month took markets and industry insiders by surprise. And though the bank has said it has a clear plan for succession, many in the investment community find that hard to believe. The company has said it hopes to announce a full-time successor to Ramos by the time it reports interim results in September, but that leaves the bank on autopilot for at least half a year - and probably longer as most serving executives at other companies would be obliged to cool off for a period before taking on a new job. The bank has said it will not promote someone from within. It is unlikely that Van Wyk will give his own flavour to t...
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