SIPHO Pityana, lead director at Absa Group, is suing part of South Africa’s central bank for stymieing his appointment as the chairman of the country’s third-largest lender.
Absa instead named former Momentum Metropolitan Holdings chairman Sello Moloko to the position on Tuesday, overlooking Pityana after a year-long recruitment process.
Pityana (who is also current chairman of Redefine Properties) is claiming reputation damages from the Prudential Authority after what he says was a flawed background check, according to an application filed in Gauteng High Court on Monday.
The lawsuit cites Absa but is not seeking compensation from the bank nor trying to overturn Moloko’s appointment, the documents say.
Pityana, who stepped down as chairman of miner AngloGold Ashanti in December, says the regulator “adopted an informal process” when reviewing his record and rejected him without a right of reply.
The appointment would have been approved were it not for sexual harassment
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