Mminele was the wrong fit for Absa

Absa Bank Group is parting ways with CEO Daniel Mminele. File photo.
Absa Bank Group is parting ways with CEO Daniel Mminele. File photo.
Image: FREDDY MAVUNDA

There is much speculation about Daniel Mminele's departure from Absa. The media are filling columns, attempting to racialise his departure, including the Black Business Forum.

The corporate world is full of wolves, gnashing their teeth... to get rid of anyone they deem to be unsuitable. Accept the fact that Mminele was the wrong fit. His experiences and paradigms did not intersect with those of the Absa board.

He is no doubt eminently qualified to lead large institutions but in this case it was best to cut ties with him... so that he can seek greener pastures.

Share prices will rise and collegiality among board members will ensure that infighting will cease. The next incumbent, no matter his or her skin pigmentation, better do his or her homework before joining Absa. [Working with Absa chair] Wendy Lucas Bull is not a walk in the park.

Peter Bachtis, Lakefield, Benoni

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