The boards of the Nedbank Group Limited and Nedbank Limited announced that Vassi Naidoo will be taking leave of absence as Independent Chairman of the group with immediate effect to focus on treatment he is receiving for a medical condition. In terms of Nedbank Group's Board Continuity Programme, Mpho Makwana (currently the Lead Independent Director of the group) will serve as acting Chairman with immediate effect until Vassi's return. The appointment of an acting Lead Independent Director will be announced in due course once internal governance processes have been completed.