News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise with us

Banking News South Africa

Arrie Rautenbach bows out early after Absa appointments blunder

Arrie Rautenbach (59), has agreed “after engagements” with the Absa board, to take early retirement from the group, effective from 15 April 2025.
Source: Wikimedia Commons.
Source: Wikimedia Commons.

Practically, this means the chief executive officer will cease to be the group chief executive officer and an executive director of the Absa Group and Absa Bank with effect from 15 October this year, followed by a six-month contractual notice period which will be served as garden leave.

“The executive leadership change, though likely well received, comes as no surprise. However, it is unlikely to be enough to close the valuation gap between Absa and its peers, considering the series of executive changes the bank has had since 2019,” observed Tasneem Samodien, research analyst at Private Clients by Old Mutual Wealth.

Read the full article by Neesa Moodley at Daily Maverick.

Source: Daily Maverick

Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.

Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.

Go to: https://www.dailymaverick.co.za/
Let's do Biz