Sipho Pityana appointed as Absa lead independent director

The Absa Board has appointed Business Unity SA president Sipho Pityana as its lead independent director, it said on Wednesday.

As a lead independent director Pityana, who joined the board in May 2019, will be the focal point for the Board's independence and be the prime intermediary between Absa Board chair Wendy Lucas-Bull and other external directors.

Pityana's directorship experience includes his role as co-chair of World Economic Forum's new Africa board, a position he clinched in January this year. He is also an independent non-executive chairperson of Redefine Properties and AngloGold Ashanti, and executive chair of his own investment outfit, Izingwe Holdings.

Absa said Mohamed Husain, who had served as the lead independent since 2018, will retire on Thursday, 4 June 2020. The banking group is due to hold a virtual AGM on Thursday.

Absa also announced that former PwC Africa's chief operating officer, Fulvio Tonelli, will join the group as a non-independent non-executive director from 1 July 2020.

ZAR/USD
16.96
(+0.41)
ZAR/GBP
21.14
(+0.48)
ZAR/EUR
19.06
(+0.62)
ZAR/AUD
11.74
(+0.29)
ZAR/JPY
0.16
(+0.63)
Gold
1774.20
(+0.47)
Silver
17.98
(+0.04)
Platinum
810.00
(-1.04)
Brent Crude
42.09
(+1.84)
Palladium
1901.00
(+0.21)
All Share
54617.19
(+1.54)
Top 40
50309.77
(+1.49)
Financial 15
10214.89
(+2.12)
Industrial 25
76156.33
(+1.23)
Resource 10
50768.18
(+1.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1541 votes
I am taking a hit, but should be able to recover in the next year
23% - 2006 votes
My finances have been devastated
34% - 3012 votes
It's still too early to know what the full effect will be
25% - 2188 votes
Vote