Absa CEO to stand down, CFO appointed interim chief executive

Absa chief executive Daniel Mminele has stepped down from the South African lender and chief financial officer Jason Quinn will replace him on an interim basis with immediate effect, the bank said on Tuesday.

"It has become clear to the parties that there is non-alignment on matters of strategy and culture transformation," Absa said in a statement, hours after announcing talks around Mminele's departure.