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Absa Group’s leadership shuffle: Executive pay rises amid reputational challenges
The Mercury
|April 02, 2025
ABSA Group faced a rocky leadership shuffle that left its reputation bruised 2024, while it paid its executive team handsomely, its latest annual report shows.
Interim group CEO Charles Russon pocketed R58.9m, including a 1% jump from R58.3m in the 2023, and non-executive financial director Deon Raju earned R2.09m for the debut year. Group chairman Sello Moloko also faced the challenges that tested the bank’s resilience amid a shifting African banking landscape.
The report details a 10% increase in headline earnings and a return on equity (RoE) of 16.8%, driven by a stronger second half.
Other executive payouts include Arrie Rautenbach, who ceased being group CEO on October 15, 2023, receiving R8.44m for 2024, down 78.9% from R40.03m in 2023, with no short-term or long-term incentives awarded.
Cette histoire est tirée de l'édition April 02, 2025 de The Mercury.
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