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Can Arrie Rautenbach make Absa great again?

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The PIC, for one, has trashed the Absa insider's appointment to the top job. But the market is decidedly more bullish, indicating that he has what it takes.

Arrie Rautenbach’s appointment as Absa’s new CEO has ignited a storm of comment — from concerns about racial transformation at the bank to applause for the lender for choosing one from among its own. But the important question is whether the newly appointed boss will execute on the bank’s strategy to increase market share in its retail and business banking unit and drive its growth in the rest of Africa.

Rautenbach has been working for Absa since 1997. His eventual rise to the top job was lauded by the investment community — it’s no secret he was passed over in favour of Absa’s first black boss in 2020, when former Reserve Bank deputy governor Daniel Mminele was appointed. ..

 

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Can Arrie Rautenbach make Absa great again?The PIC, for one, has trashed the Absa insider's appointment to the top job. But the market is decidedly more bullish, indicating that he has what it takes. The PIC with its Iqbal Surve investments is hardly a reliable source for choosing leaders. You must say we want the return of ownership and management control to minorities…. We will use any reason favourable to advance our argument …. He is the best only because he is long serving or he is aligned with the identity and thinking of the principal shareholders Just keep in mind that The PIC also lent money to Iqbal Survè. Their judgement is questionable in the extreme.
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