Maria Ramos will retire from Absa Group and Absa Bank at the end of February 2019. Maria has been Group Chief Executive for 10 years and has led the Group through significant milestones, including the aftermath of the global financial crisis and acquiring the Barclays Africa subsidiary banks in 2013. She has chosen to retire when she turns 60 in February and is eligible to do so.

The Boards have appointed René van Wyk as the Absa Group and Absa Bank Interim Chief Executive with effect from 1 March 2019. René has been an independent non-executive director on the Boards since February 2017. He was previously the Registrar of Banks within the South African Reserve Bank and retired from that position in May 2016.

René will remain on the Boards and will be classified as an executive director with effect from 1 February 2019. With immediate effect, he will no longer chair the risk and credit committees, which will be chaired by Mark Merson, who is an independent non-executive director on the Absa Group Board.