Alexander Forbes has appointed former Absa chief executive and Reserve Bank deputy governor Daniel Mminele as chair designate of its board from January.
The financial services group also appointed Mminele as an independent non-executive director and a member of its nominations and remuneration committees.
Mminele will take over as chair of the Alexander Forbes’ board on April 1, 2022.
Current board chair Marilyn Ramplin has served in this position since January 1, 2020.
‘She has indicated a desire to retire from the board in early 2022. Her business has grown, requiring increased attention,’ Alexander Forbes said in a statement.
Alexander Forbes said that the transition period would allow Mminele to participate in one full board cycle before taking over the helm, including the annual March strategy session.
‘The board is comfortable that this process will enable a smooth and successful transition,’ the company said.
Mminele served as Absa group chief executive from January 2020 until April 2021. Before joining Absa in January 2020, he served two five-year terms as deputy governor of the South African Reserve Bank.
‘We are pleased and excited to welcome an individual of Daniel’s gravitas to our board and consider his appointment as an affirmation of the high quality of leadership and governance that we hold ourselves to,’ said Alexander Forbes chief executive Dawie de Villiers.
Justin Brown is a journalist at Citywire, which provides insights and information for professional investors globally.
This article was first published on Citywire South Africa here, and republished with permission.