Absa Group Limited announced the appointment of Sello Moloko as independent non-executive director and Chairman-designate with effect from 1 December 2021. Sello Moloko is to commence the role as Absa Group Chairman on 1 April 2022. Sello will take over from Wendy Lucas-Bull who will step down on 31 March 2022, which marks the end of the nine-year period during which Wendy would have served as an independent director and as Chairman of the Absa Group Board. Absa advised of the Chairman's impending retirement in October 2020. Sello has a career spanning close to 30 years in the financial services industry. He is a former CEO of Old Mutual Asset Managers. Thereafter, he founded Thesele Group, an investment holding company where he is the Executive Chairman. He has served as Chairman on the boards of Alexander Forbes Group Holdings Limited, Sibanye-Stillwater Limited and General Reinsurance Africa Limited, among others. He is also a trustee of the Nelson Mandela Foundation. He currently serves as Chairman on the board of Telkom SA SOC Limited and Momentum Metropolitan Holdings Limited.