Nedbank says its board chairman Vassi Naidoo has taken "immediate" leave of absence to focus on treatment he is receiving for a medical condition. The banking group said his condition is not related to Covid-19.
Vassi, who has been Nedbank Group's chairperson since 2015, is also the chairperson of private real estate development company Gateway, Delta Development Holdings and of the WWF Nedbank Green Trust.
He also sits on the board of Liquid Telecommunications.
The company said Mpho Makwana, who is the board's current lead independent director, will serve as acting chair with immediate effect until Naidoo returns.
"The boards wish Vassi a speedy recovery and look forward to welcoming him back in full health in due course," wrote the company in the announcement.