SA’s Standard Bank appoints Tshabalala as sole CEO

Date:

JOHANNESBURG  – Standard Bank, Africa’s largest bank by assets, has appointed Sim Tshabalala as its first black chief executive after four years of sharing the role, the company said on Tuesday.

Thank you for reading this post, don't forget to subscribe!

South Africa’s financial sector, the economy’s largest, is often criticised by politicians for a perceived lack of transformation and remains dominated by white executives 23 years after the end of apartheid.

Standard Bank in 2013 appointed Tshabalala and Ben Kruger as joint chief executives after long-time boss Jacko Maree stepped down.

“The board is satisfied that the structure, which was necessary in 2013, has met and in many respects exceeded expectations. Accordingly, Ben Kruger steps down from the role of joint-group chief executive with immediate effect,” the firm said in a statement.

Kruger will stay on as an executive director of the company, and will report to Tshabalala as new group chief executive, Standard Bank said.

Reporting by TJ Strydom; editing by Ed Stoddard and Jason Neely

Share post:

Subscribe

Popular

More like this
Related

Access Holdings to pay N1.80 as final dividend to shareholder

March 28, 2024. Azonuchechi Chukwu. Access Holdings has revealed plans to...

Police gun down two notorious bandits in Benue

March 28, 2024. Azonuchechi Chukwu. Men of Operation Zenda, a Joint...

Army declares eight wanted in connection with the k!lling of its officers in Okuama

March 28, 2024. Azonuchechi Chukwu. The Nigerian Army has declared eight...

Naira Appreciates Against Dollar at the NAFEM Window

March 28, 2024. Azonuchechi Chukwu. The Naira’s euphoric appreciation against the...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading