Daniel Mminele: 15 months and out
Absa struggled for a year to replace Maria Ramos. Her successor, Daniel Mminele, has left abruptly - what's wrong at the bank?
Banking group Absa narrowly avoided a bruising legal battle when it reached a settlement agreement to part ways with its CEO, Daniel Mminele, on Tuesday.
Tough separation talks raised fears of a legal skirmish that could have seen Mminele dragging the bank to court. Insiders tell the FM this sparked concerns of a repeat of the Old Mutual situation, where the group sought to part ways with CEO Peter Moyo two years ago...