Absa’s lack of CEO till 2020 exposes cracks in succession planning

PREMIUM

Absa is going to be without a permanent CEO to steer the ship until 2020, leaving SA’s third-largest bank by market value vulnerable in an increasingly competitive environment.

Absa has mapped out an ambitious growth strategy that includes winning back market share at home and building a stronger business elsewhere in Africa, but it is facing fierce competition from old rivals and newly launched digital banks vying for young, tech-savvy banking consumers...

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