African Bank has announced that its CEO, Brian Riley, intends to step down at the end of March next year. He will, however, remain on the board as a director from 1 April 2018.
Riley joined African Bank as CEO designate on 1 May 2015, assuming the role of CEO of the newly restructured group when the bank launched on 4 April, 2016.
Earlier this year, Basani Maluleke (pictured) was identified as a potential successor and appointed onto the executive team on 3 July, although she has been a board member of the African Bank Group since July 2015. According to the bank, the process of inducting Maluleke has been underway for several months already. She will be the first black women CEO for the bank, too.
In other news from the bank, Ignatius Sehoole, a director on the board, has resigned to pursue other interests.
