THE banking group Absa has removed businessman Sipho Pityana from some key positions on its board with immediate effect.
In a statement, the group said Pityana would cease to be the lead independent director of the Absa Group and Absa Bank, with immediate effect.
This also means he will no longer be the chair of the bank’s remuneration committee.
This comes weeks after Pityana took the SA Reserve Bank’s Prudential Authority to court for allegedly blocking his appointment as Absa Chair.
Pityana served legal papers to the South African Reserve Bank Prudential Authority citing that the authority blocked him from becoming chair of Absa bank by conducting an informal process and consulted with third parties, including former Absa bank CEO Maria Ramos, about whether he was “fit and proper” for the role.
Pityana said Ramos used an allegation of sexual harassment against him which dates back to 2020 while he
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