Absa Group Limited and Absa Bank Limited said they will refresh key board committees in mid-2026. Paul Smith and Brian Kennedy have been named to lead the respective risk committees from 1 July 2026, while Fulvio Tonelli will take over as chair of the Group Audit and Compliance Committee on 1 August 2026. The bank also flagged related adjustments to board memberships to line up with these leadership changes.
Risk committees help a bank identify, measure and manage threats such as credit losses, market swings and operational failures. The audit and compliance committee oversees financial reporting, internal controls and adherence to laws and regulations. Absa’s move signals a planned handover of oversight roles, a routine part of board renewal under South Africa’s corporate governance practices and regulatory expectations for large banks.
For more detail, read the full announcement.