JSE ASA ABSP
ABSP AMAGB
ASA/ABSP - ABSA Group Limited/ABSA Bank Limited - ABSA Group Announces New
Executive Structure
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 or Absa Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
ABSA GROUP ANNOUNCES NEW EXECUTIVE STRUCTURE
Shareholders are advised that the following change to the executive structure of
the Absa Group have been implemented with immediate effect.
In what the Group Chief Executive (GCE) of Absa has described as "a quest to
achieve a seamless "One Absa" that will function in an integrated manner to
improve service excellence and operational efficiency, differentiate ourselves
in terms of customer experience and extract maximum value for the Group and our
shareholders", Maria Ramos today announced a new executive structure that
includes the appointment of a Deputy Group Chief Executive.
Louis von Zeuner, current Chief Executive of the Group`s retail and commercial
banking activities, has been appointed as Deputy Group Chief Executive (Deputy
GCE) for the Absa Group. The Deputy GCE will report directly to the GCE and will
assume, amongst others, the responsibility for the retail and commercial banking
businesses, Absa Financial Services and Group Operations.
Maria Ramos, GCE, said: "The revised Group structure enables closer co-operation
amongst the various business units and will ensure that we can identify and
maximise all opportunities available to our customers as they transact with us.
Creating a simple and agile business model and structure will help us achieve
this end."
Johannesburg
7 September 2009
Enquiries:
Happy Ntshingila
Executive Director: Absa Group Marketing & Corporate Affairs
Tel: (+2711) 350-6477
E-mail: happynt@absa.co.za
Sponsor:
J.P. Morgan Equities Limited
Date: 07/09/2009 13:33:01 Produced by the JSE SENS Department.
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