Africa-Press – Botswana. Absa Group has announced the upcoming resignation of Chairman Sello Moloko, who will be succeeded by René van Wyk in July 2025, pending regulatory approval.
Absa Group has confirmed that Chairman of the Board and Independent Non-Executive Director Sello Moloko will step down effective 15 July 2025. Moloko cited the need to focus on personal, business, and community commitments as the reason for his departure.
Leadership transition planned
René van Wyk will assume the role of Chairman on the same date, subject to regulatory approval. Van Wyk, a former interim Group Chief Executive Officer in 2019, has served in various board roles since rejoining Absa in August 2020, transitioning to an independent non-executive director in 2021.
Board experience and credentials
Van Wyk currently chairs the Absa Group Risk and Capital Management Committee and the Group Credit Risk Committee. He also serves on the Directors’ Affairs Committee and the Group Audit and Compliance Committee. His roles will be revised upon assuming the chairmanship.
Career in banking oversight
Prior to joining Absa, Van Wyk was the Registrar of Banks and head of banking supervision at the South African Reserve Bank, a role he retired from in 2016. He previously held executive positions within the Nedbank Group, including CEO of Imperial Bank.
Outgoing chair reflects on tenure
Moloko expressed gratitude for the opportunity to lead the board through significant developments in 2024, including appointing a permanent Chief Executive and restructuring the retail operating model. He acknowledged the intensity of the role and the impact it has had on his ability to pursue personal commitments.
Incoming chair outlines priorities
Van Wyk described his appointment as Chair as an opportunity to support the group’s strategic direction and work alongside the management team. He also thanked Moloko for his leadership and committed to ensuring a smooth leadership transition.
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