Group Chief Executive steps down and interim Group Chief Executive is appointed,
ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1986/003934/06)
JSE Share Code: ABG
Bond Issuer Code: ABGI
(“Absa Group” or “Group”)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
JSE Share Code: ABSP
Bond Issuer Code: BIABS
GROUP CHIEF EXECUTIVE STEPS DOWN AND INTERIM GROUP CHIEF EXECUTIVE IS APPOINTED,
AND CHANGE TO ABSA GROUP AND ABSA BANK BOARDS (“THE BOARDS”)
In accordance with paragraphs 3.59 (b) and (c) of the JSE Listings Requirements, shareholders are
informed that an agreement has been reached with Mr Daniel Mminele pursuant to which he has stepped
down as a director and Group Chief Executive of Absa Group and Absa Bank, and will cease to be an
employee of the Group with effect from 30 April 2021.
It has become clear to the parties that there is non-alignment on matters of strategy and culture
The Absa Group and Absa Bank Boards have appointed Jason Quinn as Interim Group Chief Executive
with immediate effect, and subject to regulatory approval.
Mr Quinn has been the Group Financial Director since August 2016. He has been with the Group in various
senior roles since 2008 and before that was a partner at Ernst & Young.
The Absa Group and Absa Bank Boards will announce the appointment of an Interim Group Financial
Director in the coming days, following regulatory approvals.
The Boards wish to thank Mr Mminele for his service and the contribution he made in a time of great
challenge for the Group and society during the Covid-19 pandemic. We wish him all the best in his future
20 April 2021
+27 (0) 72 576 2713
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Absa Bank - Corporate and Investment Bank
Date: 20-04-2021 12:49:00
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