| Fri 21 Nov 2008, 15:50 | | ASA/ABSP - ABSA Group Limited/ ABSA Bank Limited - Appointment of Maria Ramos as |
|
JSE ASA ABSP
ABSP AMAGB
ASA/ABSP - ABSA Group Limited/ ABSA Bank Limited - Appointment of Maria Ramos as
Group Chief Executive of ABSA
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa Group, Absa or the Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
APPOINTMENT OF MARIA RAMOS AS GROUP CHIEF EXECUTIVE OF ABSA
The board of Absa Group has announced the appointment of Maria Ramos as Group
Chief Executive (subject to regulatory approval) in succession to the current
Group Chief Executive, Steve Booysen who will be stepping down from Absa after a
long and distinguished career.
Ms Ramos, currently Chief Executive of Transnet, will take up her role at Absa
effective 1 March 2009. Dr Booysen will continue as Group Chief Executive of
Absa until that date, at which point he will also step down from the boards of
Absa Group and Absa Bank.
Speaking about Ms Ramos` appointment, Gill Marcus, Chairperson of Absa, said:
"Succession planning is an integral part of the governance of corporations and
financial institutions, particularly banks, whether at board, executive or
senior management level. The constant evaluation of talent, opportunities for
personal growth and advancement is critical to building a high performing
organisation. I am therefore delighted to be welcoming one of South Africa`s
most successful and highly regarded businesswomen to Absa. Maria will bring
valuable experience, energy and vision to the challenge of continuing to grow
the Absa business by providing customers with the products and services they
need to succeed."
Thanking Dr Booysen, Marcus added: "Steve has served Absa with distinction and
has played a pivotal role in the success of Absa during 20 years with the
company. During his tenure as Group Chief Executive, Absa has seen considerable
growth in revenue, with customer numbers increasing to almost ten million. I
would like to thank Steve, on behalf of the board and all his colleagues, for
his contribution to Absa."
"Having achieved the significant goals that I set for myself at the start of my
term as Group Chief Executive and with Absa performing well, this is a good time
to move on. I want enough time to still pursue at least one further major career
challenge," said Steve Booysen.
Marcus added: "Today, Absa is a strong, diverse financial services group with a
proven leadership team. There will be a smooth transition, given the
relationship of mutual respect that exists between Steve, Maria and me. The
months ahead remain extremely challenging, and Absa will continue to benefit
from Steve`s leadership insights. Maria Ramos will use this period as an
opportunity to interact with Steve, and familiarise herself with Absa and its
people.
Maria Ramos said: "I am greatly looking forward to joining Absa. The opportunity
for the business is significant and compelling and I am very excited at the
prospect of leading the bank to its next level of growth."
Booysen said: "I would like to thank all my colleagues at Absa for the support
which they have given me during my tenure as Group Chief Executive. I have
enjoyed my time working with them and believe that we should all be very proud
about the transformation which has taken place at Absa and the role which Absa
has played in helping South Africa to grow and thrive.
"I owe the success to the support of my wife and family, and all my mentors and
colleagues with whom I have been privileged to work. I deeply appreciate the
support and confidence I have enjoyed from Gill Marcus and the board, and am
sure that Maria can count on the same. I wish Maria well for the future and look
forward to exploring new challenges and opportunities," Booysen said.
Gill Marcus added: "We take this opportunity to also welcome three new non-
executive directors to the boards of the Absa Group and Absa Bank, namely Thoko
Mokgosi-Mwantembe, Brand Pretorius and Mohamed Husain. They will add
considerable value and insights into the opportunities and challenges we face in
the years ahead.
Teleconference
A teleconference will be held at 17H00 South African time, to discuss the change
in leadership. Kindly refer to the details below.
Johannesburg
21 November 2008
Enquiries: Investors and analysts
Nerina Bodasing
Head: Investor Relations
(+2711) 350-2598
(+2782) 940-7505
E-mail: Nerina.Bodasing@absa.co.za
Enquiries: Media
Happy Ntshingila
Group Executive: Group Marketing, Communications & Public Affairs
(+2711) 350-6449
(+2782) 994-0035
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Conference call details
Interested parties can join the presentation via the audio bridge.
Instructions to join the conference via telephone
A toll free telephone conference facility is available. Please dial in on the
number that relates to your country (listed below). The operator will request
you to provide your full name and company details. The operator will then
transfer you into the conference and you will hear music on hold until the
presentation starts. Should you have any problems or need assistance during the
presentation please dial *0 for the operator.
Live Call
South Africa Toll 011 535 3600
South Africa Toll-Free 0 800 200 648
USA Toll 1 412 858 4600
USA Toll-free 1 800 860 2442
UK Toll-free 0 800 917 7042
Australia Toll-free 1 800 350 100
Canada Toll-free1 866 802 2443
Europe Toll +41 916 105 600
Other Countries Toll-free +800 246 78 700
Playback - account code 2571#
South Africa Toll 011 305 2030
UK Toll-Free 0 808 237 6771
Australia Toll-Free 1 800 091 250
USA Toll 1 412 317 0088
Europe +41 91 612 4330 (Switzerland)
Other Countries +27-11-305-2030
Date: 21/11/2008 15:50:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
