In a surprise announcement just before Absa released its half-year results yesterday morning, the group said Arrie Rautenbach would relinquish his CEO and executive director roles from mid-October followed by six months of contractually enforced gardening leave.
Absa's share price jumped 5% to R165.45 - despite the unexpected departure of its CEO and its interim results, which showed a 5% fall in headline earnings.
To help us try and make sense of the developments, we are joined by Rob Rose, Writer: Financial Times.
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