Absa has named insider, Arrie Rautenbach CEO.
According to recent reports, Absa has finally named a new CEO since the departure of former longstanding CEO, Maria Ramos in 2019. The appointment was made on Tuesday, and Arrie Rautenbach was named the Chief Executive Officer of the South African lender. He becomes the fourth person to take the reins and lead.
With immediate effect, Rautenbach will replace interim CEO, Jason Quinn. Jason Quinn took charge following the abrupt departure of Daniel Mminele in April last year. According to reports, he did not do a bad job. Reuters reports that the new CEO, Rautenbach has been an insider since 1997.
He has also held several managerial roles. He currently heads “the lender’s retail and business bank, a key unit now delivering better results after executing a turnaround strategy.” Outgoing chairwoman, Wendy Lucas-Bull said ““I am confident that his (Rautenbach’s) leadership will provide the continuity and stability necessary to consolidate our purpose and strategy,”
