Absa has named Standard Bank deputy CEO Kenny Fihla as its CEO designate.
Fihla's appointment is effective from June 17 and is subject to regulatory approval, said the bank.
Absa has been searching for a new CEO since August after announcing that its former CEO Arrie Rautenbach would take early retirement.
The group named Charles Russon as interim chief executive effective from October. The group said Russon would remain interim CEO until June 16.
“Charles will partner closely with Kenny to ensure a smooth leadership transition, whereafter he will take a key senior role within the group executive committee,” it said on Monday.
Standard Bank said Fihla has tendered his resignation, with his last day in office being Friday, June 13. “The necessary succession planning measures will be announced in due course,” it said.
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