Extract

The CEO of one of SAs top four banks — Absa — announced this week that she is retiring after 10 years in this role.

Employment equity at the bank improved under Maria Ramos’s guidance. Both the number of black women and men in senior management positions increased during her period as CEO.

Given that she was the only female CEO of the top 40 companies listed on the JSE, gender diversity has taken a knock as a result of her retirement.

The CEO of one of SAs top four banks — Absa — announced this week that she is retiring after 10 years in this role. Employment equity at the bank improved under Maria Ramos’s guidance. Both the number of black women and men in senior management positions increased during her period as CEO. Given that she was the only female CEO of the top 40 companies listed on the JSE, gender diversity has taken a knock as a result of her retirement. There are now no female CEOs running any of the country’s 40 largest listed companies. In addition, women make up only a fifth of the directors who serve on the boards of companies listed on the JSE. Several locally listed companies still have no female board members while most who do diversify their boards tend to appoint only one female director at a time. Research shows that a critical mass of at least three women is required to really make a difference at board level. A report in 2018 on leadership in the private sector by the head-hunting firm Jac...

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