Fin24

Absa falls as deputy CEO steps down

2012-02-01 15:05

Johannesburg - Shares of Absa Group [JSE:ASA] turned negative in afternoon trade on Wednesday after it said its veteran deputy chief executive would step down next year, reflecting the latest management chain at the Barclays-controlled lender.

Shares of Absa were down 1.2% at R146.74, having earlier been in positive territory.

Absa said in a statement that 51-year-old Louis von Zeuner will become a non-executive director from January 1, where he will still devote “60% of his time” to the bank, chairing committees and mentoring new talent.

A veteran Absa banker, von Zeuner is well known in South Africa’s industry.

 

Comments
  • braamc - 2012-02-01 20:10

    Big loss to the bank, Louis one of SA's outstanding bankers

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