/ 21 November 2008

Ramos to become new Absa CEO

Banking group Absa announced on Friday that exiting Transnet boss and former National Treasury director general Maria Ramos is to take over as CEO of the group in March next year.

It said the appointment was, however, subject to regulatory approval.

She succeeds Dr Steve Booysen who is stepping down as group CEO of Absa after a long and distinguished career.

Booysen would remain as CEO of Absa until Ramos takes over the reins, at which point he will also step down from the boards of Absa Group and Absa Bank.

Ramos announced earlier on Friday that she was resigning as CEO of Transnet at the end of February next year after a period of five years during which she managed to turn the flagging transport parastatal around.

Transnet said she was leaving to explore other challenges outside the company. — I-Net Bridge