By STUART LISULO
ABSA Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer and Executive Director of the Group and Bank, effective immediately.
In a statement, the Group announced that Rautenbach has taken over from Jason Quinn, who previously assumed the position in an interim capacity.
“In accordance with paragraphs 3.59 of the Listings Requirements and 6.39 of the Debt Listings Requirements of the JSE Limited, shareholders are informed that the Absa Group and Absa Bank Boards (“the Boards”) have appointed Arrie Rautenbach as Chief Executive Officer (CEO) and Executive Director of Absa Group and Absa Bank, effective immediately.
Arrie is currently Absa’s Chief Executive: Retail and Business Banking (RBB). He joined Absa in 1997 and has held several senior roles over the years, including Chief Risk Officer, Chief Executive: Retail Banking South Africa, Managing Executive: Absa Card and Managing Executive: Branch Network, Absa Bank. Arrie has a Bachelors and a Master’s in Business Administration (both from the University of North-West: Potchefstroom) and completed an Advanced Management Program at INSEAD,” read a statement issued via the Group’s head office in Johannesburg recently.
“Shareholders are also informed that Jason Quinn, currently Interim Group CEO, will resume his role as Financial Director of Absa Group and Absa Bank, effective immediately, and remain an Executive Director on the Boards. Jason held this position from August, 2016, to April, 2021.”
And commenting on his appointment, Rautenbach said he was humbled for the mammoth task that lay ahead.
“I am humbled and honoured to lead Absa during challenging conditions locally and internationally. I am excited at the prospect of working with a talented and diverse team, leading an outstanding business that is positioned to seize the many opportunities that lie ahead. I look forward to working with the Board and the Executive in consolidating our strategy and performance, driving organisational and cultural transformation, and delivering financial and social value for all our stakeholders, and sustainable future growth and returns for Absa and its shareholders,” said Rautenbach in the statement.