ABSA - APPOINTMENT OF A DIRECTOR
ABSA GROUP LIMITED
(`ABSA` or `the Group`)
Registration number: 1986/003934/06
Share code: ASA
ISIN Code: ZAE000013389
Issuer code: AMAGB
IN ACCORDANCE WITH THE REQUIREMENTS OF PARAGRAPH 3.59 OF THE LISTINGS
REQUIREMENTS, THE FOLLOWING SHOULD BE NOTED:
The board of directors of Absa announces the appointment of
J H (Jacques) Schindehutte (45) as Group executive director with effect from 1
January 2005. He will succeed F J (Frans) du Toit as financial head of the
organisation and will join the boards of Absa and Absa Bank Limited on the same
date.
To facilitate a smooth handover to his successor, Mr Du Toit will resign his
board positions and as financial head of the organisation on 1 January 2005, but
has agreed to continue in a consulting role until his formal retirement in April
2005. Consequently, the board has approved Mr Schindehutte`s appointment to the
boards when Mr Du Toit resigns as a director on 1 January 2005. Mr Du Toit
reaches the mandatory retirement age of 60 in April 2005. Mr Du Toit joined the
Group in 1987 and has been a member of the Group`s board since 2001. He will
continue to serve on the boards of banks in Africa where the Group has
interests.
The board announced on 2 August 2004 that Mr Schindehutte would succeed Mr Du
Toit upon his retirement.
Mr Schindehutte, a chartered accountant who joined Absa in October 1999, will
take over Mr Du Toit`s reporting lines, which consist of Group Finance, The
Office of the General Counsel, Group Economic Research, Group Secretariat and
Corporate Governance and Group Investor Relations.
E (Eric) Wasserman (42), presently general manager: Group Finance, will succeed
Mr Schindehutte on 1 January 2005 as Group executive: Group Finance. Mr
Wasserman, also a chartered accountant, joined Absa in September 2000.
Further inquiries:
Willie Roux
Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg.
Tel: 2711 350-4061. Fax: 2711 350-6487
E-mail: willier@absa.co.za
Ingridl@absa.co.za
Date: 22/11/2004 07:50:35 AM
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