BusinessLIVE reported on Monday that Pityana claims that the informal process “circumvented procedures set out in the Banks Act” and culminated in board chair Wendy Lucas-Bull being informally told by Naidoo that he would not support his nomination.
The informal interaction ultimately resulted in the board declining to formally nominate him, says Pityana. However, at the same time it affirmed him as lead independent director, an indication, says Pityana, that it retained its trust in him, BusinessLIVE reported. According to Pityana, Naidoo made the Absa board aware of a sexual harassment allegation against Pityana, which the latter said had been brought to Naidoo’s attention by Ramos. The allegation dates back to 2020 when both Pityana and Ramos served on the board of AngloGold Ashanti. At the time, the two were on opposite sides of a divide over various strategic issues, including the offshore listing of the company. Pityana denies the sexual allegations.
The AngloGold Ashanti report was reviewed by an independent lawyer on behalf of Absa. The review pointed out serious problems with the report, including that crucial evidence had been disregarded.