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FNB head Jordaan refutes resignation rumours

26 Jan 2013 15:25 | Sapa

FNB CEO Michael Jordaan at the banks headquarters on October 10, 2012 in Johannesburg, South Africa. (Muntu Vilakazi, Gallo)

FNB CEO Michael Jordaan at the banks headquarters on October 10, 2012 in Johannesburg, South Africa. (Muntu Vilakazi, Gallo)

"I am not resigning as CEO [of] the most innovative bank in the world." Jordaan tweeted on Friday morning.

He was responding to a report on Moneyweb that he was resigning after two independent sources close to First National Bank (FNB) said they were informed of Jordaan's plans to leave the bank by the end of the year.

On his Twitter page Jordaan posted a Moneyweb article about his resignation and commented that it was speculation.

However, Twitter users tweeted about the resignation, FNB apologising to the ANC and the campaign.

Former ambassador to Argentina and former Democratic Alliance leader Tony Leon tweeted: "The ANC must be laughing all the way to the bank."

City Press Editor Ferial Haffajee tweeted: "I wonder when we who get bullied say so far and no more? Not a good feeling at all."

Journalist Philip de Wet tweeted: "ANC: 3 to 0 and the games are getting shorter. Goodman Gallery put up a real fight, City Press expressed duress. FNB just crumbled."

While DA leader Helen Zille tweeted: "Saying that #FNB caved in order to protect the kids in the advert is a more devastating statement on the ANC govt than anything the ad said."

Twitter user Dries Lombaard tweeted: "If I banked at #FNB I would have closed my account today. No guts to bring a message of hope. IPads cannot buy integrity. #brandfail"

Cliff Featherstone tweeted: "#FNB and the #ANC – putting the mock back in democracy"


FNB met with the leadership of the ANC, led by its secretary general Gwede Mantashe on Thursday. The bank apologised to the ANC on Friday.

"The CEO of FirstRand, Mr Sizwe Nxasana, agreed that the research clippings that were posted online were regrettable; he apologised for the posting of the research clippings online," the ANC said in a statement.

"He then assured the meeting that this regrettable incident will not be repeated."

The FNB campaign features a number of videos of children in school uniform reading their hopes for the country. Opposition parties and activist groups said the ANC's criticism of the campaign showed its intolerance.

During the meeting, the ANC pointed out that the video clips were a deliberate attack on the ANC.

The clips fed into the opposition narrative that sought to project the ANC and government in a negative manner, it said.

The ANC said the clips had a negative impact on business confidence and could undermine the promotion of investment into the country.

"The ANC indicated that its leadership and membership were strongly raising a question why the organisation should continue to bank with a bank that has adopted an oppositional (sic) stance to it."

Nxasa explained to the ruling party the objectives of their youth campaign and stressed that it was meant to inspire all South Africans to work together by helping one another.

FNB expressed its commitment to the National Development Plan in addressing the areas of poverty, inequality and unemployment, the ANC said on Friday. – Sapa.

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