End of the road for Standard Bank CEO
Standard Bank Group CEO Sim Tshabalala and CFO Arno Daehnke will retire by the end of 2027, even as the lender increased the retirement age for its executives.
While Africa’s biggest bank by assets raised the retirement age for its executives to 63 from 60, that won’t apply to Tshabalala and Daehnke, the lender said.
Tshabalala was appointed to his role in 2013, while Daehnke was appointed in 2016.
“We have extended the retirement age for future executives aligned to local and international trends that reflect longer and more productive working lives,” said Chairperson Nonkululeko Nyembezi.
“However, it is important to maintain clarity and certainty in our current leadership transition plans. This approach ensures we honor those plans while preparing the next generation of leaders.”
Tshabalala’s possible replacement has become less clear after former Deputy CEO Kenny Fihla departed to take the reigns of its competitor Absa.
Loading ...