Zuko Komisa

Absa Group has announced that group CEO Arrie Rautenbach will retire early on April 15, 2025.
Rautenbach has been Absa Bank since 1997 and took over as CEO in 2022, becoming the fourth person to do so after CEO Maria Ramos’ resignation in 2019.
According to the Absa Group Rautenbach will retire as CEO and executive director of Absa Group and Absa Bank on October 15, 2024, to begin a six-month garden leave period.
Absa Group has further stated that Charles Russon will become interim CEO of Absa Group and Absa Bank while Yasmin Masithela will become interim CEO of Absa’s CIB effective October 15.
“Following engagements between the board and Arrie Rautenbach, Absa group CEO, the parties have agreed that (Rautenbach) will take early retirement from the group, effective April 15, 2025,”
“(Rautenbach) will cease to be the CEO and an executive director of the boards with effect from October 15, 2024, followed by a six-month contractual notice period that will be served as garden leave. He will continue to serve the group in his current role until October 15, 2024.” said the group in a statement to shareholders released on the JSE’s Stock News Service on Monday.
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