Former Absa CEO Daniel Mminele, who recently stepped down as head of the Presidential Climate Finance Task Team, has been appointed as the new chair of the Nedbank board. | News24_Business
Mminele will replace current Nedbank chair Mpho Makwana, who became Eskom's chair last year. In December, Nedbank announced that Makwana will retire as its chair in 2023.
In 2021, Mminele quit as Absa CEO following clashes with the board on how to implement the bank’s strategy. Then Absa chair Wendy Lucas-Bull said Absa's leadership team did not see eye-to-eye with Mminele on how to do things. His appointment at Nedbank is effective 1 May. Mminele, who is a former deputy governor at the SA Reserve Bank, had to resign from his position of chair of Alexforbes.
"I am honoured by this appointment and look forward to joining the Nedbank Group as Independent non-executive director and chair-designate," Mminele said in a statement. "I am looking forward to working with board colleagues, the management team, employees and our broader stakeholder community as we deliver on strategic commitments and ambitions in line with Nedbank’s track record as a purpose-driven organisation."
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