Kenny Fihla Appointed New Absa Ceo

Kenny Fihla has been appointed as the new Absa CEO. Fihla, who serves as Standard Bank Group Deputy Chief Executive and CEO of Standard Bank South Africa, resigned from all his executive positions with effect from June 13.

Absa says Fihlas appointment is effective from July 17, subject to regulatory approval.

Charles Russon has been acting CEO at Absa since the early retirement of Arrie Rautenbach .

In a statement released to the market this morning, Standard Bank Group CEO, Sim Tshabalala described Fihlas leaving as a heavy blow to the bank but also expressed confidence in a seamless succession process that would take place at the bank, noting that it has a deep pool of existing talent that could take over his responsibilities.

Fihla has been at Standard Bank for 18 years, having held many senior strategic positions at the bank.