ABSA GROUP LIMITED
14 August 2001
RUMOURS ABOUT ABSA CHIEF EXECUTIVE'S RETIREMENT TOTALLY UNFOUNDED
The report in today's edition of Business Report claiming that the Absa
Group is "head-hunting" for a new chief executive is pure speculation and
totally without foundation.
"Our Group chief executive Nallie Bosman is not in the process of retiring,"
says Absa's non-executive chairman Danie Cronj . "My position is also
unchanged. The journalist is unable to substantiate any of his claims."
This rumour may have its source in Absa's efforts to find a new head for its
corporate and merchant banking activities.
"It is common knowledge that Absa is in the market for a new Group executive
director to head up Absa Corporate and Merchant Bank and its offshore
banking operations," Dr Cronj said.
This post was previously held by Jean Brown, who died in February of this
year.
The Group currently has seven executive directors, all of whom report to Mr
Bosman.
Issued by: Steve Matthewson
Manager: Media Relations
Absa Group
Tel: (011) 350 5768
Cell: 083-256-0717
Investor Relations inquiries: Willie Roux
Group Consultant: Investor Relations
Tel: (011) 350-4061
E-mail: willier@absa.co.za
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