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Nedbank CEO denies revenge motive in hiring Absa finance director

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Business Nieuws

Mike Brown,Nedbank,CEO

Mike Brown, the outgoing CEO of Nedbank, denies that the hiring of Absa finance director Jason Quinn as his replacement was orchestrated as revenge against Absa.

Mike Brown, Nedbank's outgoing CEO, says the hiring of Absa finance director Jason Quinn as his replacement was not orchestrated by chair Daniel Mminele as revenge against his former employer.

"It's absolutely not Daniel getting back at Absa in any way," Brown told News24 ahead of his pending retirement at the end of May after more than 30 years' service., less than 16 months into the role, over differences with its board on strategy. This resulted in Absa copping harsh criticism in some quarters over its commitment to transformation, including from the Public Investment Corporation and the Association of Black Securities and Investment Professionals .

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