SA Money Daily | Absa CEO Arrie Rautenbach agrees to take early retirement

Former SARB deputy Kuben Naidoo on his big new challenge at Investec

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Absa CEO Arrie Rautenbach agrees to take early retirement Absa CEO Arrie Rautenbach has agreed to take early retirement less than two and a half years after officially taking over as head of South Africa's fourth-largest lender.   Rautenbach's departure after more than 27 years with the group was announced on the same day it is scheduled to release its interim results. His appointment as CEO became effective in late March 2022, almost a year after Daniel Mminele, Absa's first black CEO, stepped down in April 2021 due to differences with the group's board over strategy.   "Following engagements between the board and Arrie Rautenbach, Absa group CEO, the parties have agreed that Arrie will take early retirement from the group, effective 15 April 2025," Absa said in a statement.   "Arrie will cease to be the CEO and an executive director of the boards with effect from 15 October 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 15 October 2024."   Rautenbach's appointment was criticised by the Public Investment Corporation (PIC) and the Association of Black Securities and Investment Professionals (ABSIP), who were unhappy over the selection of a white male. Read More ENERGY Ramokgopa withdraws key gazette to procure 2 500MW of nuclear Minister Kgosientsho Ramokgopa wants to avoid the country's "checkered history" in procuring new nuclear by allowing the public another chance to consult. Sponsored | Understanding the MACD: A technical indicator for skillful South African traders The financial market in South Africa provides many unique options for investors. There's a variety of technical tools that analysts use, with the Moving Average Convergence Divergence (MACD) being a favorite. Former SARB deputy Kuben Naidoo on his big new challenge at Investec As Investec SA's head of corporate payment channels, former SA Reserve Bank deputy governor Kuben Naidoo is spearheading the enablement of PayShap payments. Only the big or lucky survive in SA port chaos, say Durban transporters Transporters working at the Durban Port have said that many businesses have silently closed down over the years due to port ineffiencies, including long queues and a faulty truck booking system. Copper 360 sees blue skies as underground production begins, but sceptics call for a pinch of salt The junior miner says it has reached a major inflexion point as it begins to produce copper concentrate, but critics remain wary. SA's power reprieve has hit solar installations - but Eskom's prices are still rising With Eskom delivering 140 days without load shedding, solar PV industry players say rising energy costs will be the next big driver of rooftop installations. Ramaphosa signs off long-awaited electricity act to support competitive market President Cyril Ramaphosa has signed into law, the long-awaited Electricity Regulation Amendment Act. Wendy Knowler | Your long-forgotten garage card may be costing you thousands in fees A frustrated consumer realised she'd spent more than R35 000 on fees for long-forgotten garage cards going back to 2010, writes Wendy Knowler.   If you would like to participate in a survey for research through the Gordon Institute of Business Science into how the credibility of news media and the accuracy of the information it publishes can lead to people adopting a new business model for the media industry, please click here.  DOWNLOAD THE NEWS24 APP CONNECT WITH US

Opt-out of this email • Manage Preferences • Update Profile • View PDF • Share • View Online This email was sent to newstrafik.LINK13@blogger.com on 19-08-2024 24.com is intended for opt-in communication only. If you feel this email is unsolicited, please report it to us