Black Management Forum wants Absa to explain CEO Mminele's exit after 16 months

Andile Nomlala, the president of the Black Management Forum, said that there were serious questions to be asked.

FILE: Former Absa CEO Daniel Mminele. Picture: Absa

JOHANNESBURG - The Black Management Forum will be meeting with Absa's board on Thursday to demand an explanation around the stepping down of CEO, Daniel Mminele, after just 16 months at the helm.

Mminele is the second black CEO to leave a South African bank following differences with the board - Basani Maluleke stepped down as African Bank CEO in January.

Andile Nomlala, the president of the Black Management Forum, said that there were serious questions to be asked.

"Every time when it's time for a black person to come in and given the opportunity to lead, there's always the convenient excuse of them not being ready and adequately prepared and yet they sit and prepare the position for many years."

Meanwhile, Absa board chairperson, Wendy Lucas-Bull, said that the group would introspect on what went wrong.

"I think one of them will be the extent of difference in the environment that we are in and the one that Daniel was used over a long successful period of 20 years. They are very different in scope and in size."

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