Absa Names Standard Bank’s Kenny Fihla As New CEO

Absa has officially tapped Standard Bank deputy CEO Kenny Fihla as its CEO designate, effective June 17. His appointment is pending regulatory approval, the bank confirmed on Monday.

Leadership Shake-Up at Absa

Fihla steps in following Arrie Rautenbach’s early retirement announcement in August last year. Since then, Charles Russon has been serving as interim CEO and will continue in the role until June 16.

“Charles will partner closely with Kenny to ensure a smooth leadership transition, whereafter he will take a key senior role within the group executive committee,” Absa stated.

Fihla Bids Farewell to Standard Bank

With his new role confirmed, Standard Bank has announced that Fihla has tendered his resignation and will officially leave the bank on June 13. The institution has yet to name his successor, saying, “The necessary succession planning measures will be announced in due course.”

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Fihla’s move marks a significant leadership change in SA’s banking sector, as two of the country’s biggest banks prepare for transitions at the top.

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