Sim Tshabalala will have to scratch his head vigorously over the next few months. His neat plan to retain top talent and manage succession was rudely disrupted when his deputy, Kenny Fihla, left to join Absa as CEO. Or perhaps Fihla was not part of the bank’s succession plan after all.
It looked like Tshabalala and the Standard Bank board could relax last year when Fihla, head of corporate and investment banking (CIB), was appointed deputy CEO and was also put in charge of the South Africa division. The announcement came as Absa Group CEO Arrie Rautenbach was about to fall on his sword. As they say, it’s back to the drawing board for Standard Bank as the clock ticks down to Tshabalala’s retirement. ..
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