Absa fires Sipho Pityana as lead independent director

14 November 2021 - 00:03 By Thabiso Mochiko and Nick Wilson

Absa has removed Sipho Pityana as lead independent director with immediate effect, in a move that indicates a possible rift between him and the board over his decision to take the Reserve Bank’s Prudential Authority to court for allegedly unfairly blocking his candidacy as Absa’s chair.

In a Sens statement on Friday, Absa said the Absa Group and Absa Bank boards have resolved that Pityana will “cease” to be lead independent director and chair of the remuneration committee and, “as a consequence, member of the directors’ affairs committee with immediate effect”...

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