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NEDBANK GROUP LIMITED - Early Retirement of Executive Committee Member

Release Date: 18/10/2017 08:00
Code(s): NED     PDF:  
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Early Retirement of Executive Committee Member

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
ISIN: ZAE000004875
JSE share code: NED
NSX share code: NBK
(“Nedbank Group” or “the Group”)

EARLY RETIREMENT OF EXECUTIVE COMMITTEE MEMBER

Nedbank Group announces the early retirement of Abe Thebyane (57) after
more than 6 years as Group Executive of Human Resources and a member of the
Group Executive committee. Abe has decided to take early retirement in
terms of the rules of the bank’s retirement policy.

Abe joined Nedbank as part of the Group Executive team in February 2011.
During his tenure, he was instrumental in initiating the People 2020
strategy, which includes the transformation of Nedbank’s culture, the
leadership journey and new talent management approach. In 2015, he co-led
efforts to implement the SAP Human Capital Management in the bank.

Nedbank will commence the process to appoint a successor for Abe and
decided to extend the process both internally and externally. The effective
date of his early retirement will be announced upon the appointment of a
suitable successor to ensure a seamless handover of responsibilities.

Chief Operating Officer, Mfundo Nkuhlu commented: ‘We wish Abe well in his
early retirement and thank him for his contribution to Nedbank.’

Sandton
18 October 2017

Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank CIB

Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd

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