Absa fires Sipho Pityana as director of boards

Absa said that the decision to sack Pityana was made during a meeting on Tuesday where he was given an opportunity to address allegations that he had neglected or been derelict in his perfomance as a director of boards and failed to conduct himself in the interests of the bank.

FILE: Sipho Pityana. Picture: Eyewitness News

JOHANNESBURG - Absa has fired businessman Sipho Pityana from his role as a director of boards at the banking group.

The announcement was made in a statement on Wednesday.

Absa said that the decision to sack Pityana was made during a meeting on Tuesday where he was given an opportunity to address allegations that he had neglected or been derelict in his performance as a director of boards and failed to conduct himself in the interests of the bank.

The bank said that after careful consideration of the matter and Pityana's responses to the allegations, it concluded that he had pursued his own personal interests to the detriment of the bank and had created a sustained and irresoluble conflict.

Absa added that the decision to remove Pityana as director followed an earlier decision this month to remove him as lead independent director and chairperson of the remuneration committee.