ABSA BANK LIMITED - Chairman Succession Planning - BIABS and ABGI

Chairman Succession Planning - BIABS and ABGI

ABSA BANK LIMITED
(Incorporated with limited liability in South Africa under registration number
1986/004794/06)
Bond Issuer Code: BIABS
(“Absa Bank”)

ABSA GROUP LIMITED
(Incorporated with limited liability in South Africa under registration number
1986/003934/06)
Bond Issuer Code: ABGI
(“Absa Group” or “ABGI”)

CHAIRMAN SUCCESSION PLANNING

Shareholders are hereby informed that the Absa Group and Absa Bank boards have
commenced a succession process to ensure an orderly transition when the term of
the current Chairman, Wendy Lucas-Bull, expires in approximately 18 months on 
31 March 2022.

In terms of SARB Directive 4/2018, a director can no longer remain on the board of a
bank as an independent non-executive director beyond a period of 9 years.

Ms Lucas-Bull joined the Absa Group Board as an independent non-executive
director and Chairman on 1 April 2013 and will have served 9 years by the end of
March 2022. She is also Chairman of Absa Bank Limited and Absa Financial
Services Limited.

The succession process will consider internal and external candidates and the timing
will accommodate an appropriate onboarding, induction and eventual handover by
Ms Lucas-Bull to the new appointee.

An announcement will be made when the succession process is completed.

Johannesburg
09 October 2020



Enquiries:
Nadine Drutman (Group Company Secretary)
Nadine.Drutman@absa.africa
Tel: 011 350 5347


Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 09-10-2020 05:20:00
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