Standard Bank CEO, CFO to retire in 2027
Standard Bank Group has revealed that Chief Executive Sim Tshabalala and Chief Financial Officer Arno Daehnke will retire in 2027, concluding more than ten years in their respective positions.Tshabalala has been at the helm of Africa’s largest bank by assets since 2013, and Daehnke has served as CFO since 2016.
This announcement comes shortly after the board increased the retirement age for executive directors from 60 to 63, a change that was initially interpreted as allowing Tshabalala, who is 57, to prolong his tenure following the exit of his deputy, Kenny Fihla, to competitor Absa in March.
Nevertheless, the Johannesburg-based bank confirmed on Thursday that this new policy will not affect its current senior executives. “While we have raised the retirement age for future executives … it is crucial to maintain clarity and certainty in our existing leadership transition plans,” the bank stated.
The announcement coincided with Standard Bank’s half-year results, which indicated an 8% rise in earnings to $1.36 billion when compared to the same period in 2024.
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