Who Is Thulani Gcabashe? Standard Bank Chair Step Down – Age, Wife, Net Worth: As per the latest report, Standard Bank Group state that Thulani Gcabashe will retire from the post of chairman and director of its board in the forthcoming AGM on 31st of May 2022. Gcabashe has been the chairman of the Standard Bank SA boards and Standard Bank Group since the month of May 2015. He has worked as a director on both boards for around 19 years. The bank stated in a short statement that “The boards wish to express deep appreciation to Thulani for his exemplary leadership, dedication, and stewardship to the Standard Bank Group at the time of his tenure and wish him all the success in his future endeavors.” Follow More Update On GetIndiaNews.com
Who Is Thulani Gcabashe?
Investors who hold almost a 3rd of Standard Bank shares (32.37%) voted against the re-election of Gcabashe at the year 2021 AGM. At the time, shareholder activist group Just Share stated it would be interesting to watch when asset managers launch their voting records whether the “unusually high levels of votes” against the re-election of a sitting char had everything to do with the dissatisfaction of shareholders with the handling of climate risk of Standard Bank.
Thulani Gcabashe Standard Bank Chair Step Down
Environmental activists and other shareholders have been blaming the decisions of Standard Bank to finance or advise on the transactions of fossil fuel projects. In the past few AGMs, Standard Bank CEO Sim Tshabalala and Gcabashe have had to step in to stop the meetings from descending into chaos as activists took over their relentless questions.
Talking about the retirement of Gcabashe, he was the former chief executive officer of the power utility Eskom of South Africa, had joined Standard Bank in the year 2003 as a director, and was appointed Chairman in the year 2015. The bank said it had already begun the process to appoint the successor of Gcabashe and that a deceleration in this regard would be made in due course.
Thulani Gcabashe: Age, Wife, and Net Worth
Gcabashe had worked as State-owned utility Eskom CEO from the year 2000 to the year 2007. He also works as the chairperson of the energy solutions firm Hive Hydrogen South Africa and executive chairperson of Built Africa. Hiva Hydrogen, Built Africa, and chemicals company Linde’s entirely owned South Africa subsidiary Afrox collaborated recently to create a green ammonia export plant in Nelson Mandela Bay, in the Eastern Cape.
The 1st phase of the project is scheduled to come online in the year 2025, with the entire operation by the end of 2026. The proposed 780 000 t/y, $4.6-billion green ammonia plant will have its own dedicated green power supply at the Coega Special Economic Zone alongside the Port of Ngqura.