The Public Investment Corporation (PIC) the country’s largest fund manager has come after ABSA and expressed its “downright disappoint” with ABSA’s board appointment of the new CEO Arrie Rautenbach.
In a statement made on Friday PIC was quote as saying “The PIC expected that the board would have placed the required focus on transformation in the process to recruit a new CEO.”
In the interim the PIC has requested an urgent meeting with the bank to discuss it transformation strategy and plan.
