Businessman Sipho Pityana has been removed from key positions on the Absa board following his court action against the Prudential Authority over what he said was an unfair process that stymied his chance of being Absa chairperson.
In a statement on SENS late on Friday, Absa told shareholders “that the Absa Group and Absa Bank boards have resolved that Sipho M Pityana will cease to be lead independent director of Absa Group and Absa Bank, chairman of the remuneration committee [remco] and, as a consequence, member of the directors’ affairs committee [DAC], with immediate effect”.It added that the boards will appoint a new lead independent director and chair of the remco and advise shareholders in due course.
The high-profile dispute has seen the bank draw criticism with some analysts saying it’s disappointing that the bank had made yet another misstep with the board succession and this showed a leadership team divided. It emerged following Pityana’s court action against the PA, that he had left the AngloGold Ashanti board, where he was chair, following an allegation and investigation into a charge of sexual harassment against him.Pityana could not immediately be reached for comment on Friday night.
Eshula captured person
Ziyatsha izichibi kunjani makunje
Time wounds all heels😭
Zimkile iinkomo
I don't feel like reading the article but if like to know why he was fired
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Sipho Pityana loses key positions on Absa boardSipho Pityana, a director of Absa, has been stripped of key positions that he held on the board, including chair of the remuneration committee. Pityana is involved in a legal action against the Prudential Authority and Absa Sipho was used. I have benefited from at least R40k a week with Hendricksnino through his recommended platform with my small investment. Don't spend all your money without investing. Hendricksnino is a life saver, join me and win also in with good hands I am so happy trust me friends, it works 99% when it comes to the currency and bitcoin market. I can not say that she is 100%, it is only God who is 100% try her and see how it goes Robert_BAR1
Source: TimesLIVE - 🏆 28. / 59 Read more »
Sipho Pityana loses key positions on Absa boardSipho Pityana, a director of Absa, has been stripped of key positions that he held on the board, including chair of the remuneration committee. Pityana is involved in a legal action against the Prudential Authority and Absa Sipho was used. I have benefited from at least R40k a week with Hendricksnino through his recommended platform with my small investment. Don't spend all your money without investing. Hendricksnino is a life saver, join me and win also in with good hands I am so happy trust me friends, it works 99% when it comes to the currency and bitcoin market. I can not say that she is 100%, it is only God who is 100% try her and see how it goes Robert_BAR1
Source: TimesLIVE - 🏆 28. / 59 Read more »