The announcement comes after the bank reviewed its retirement age for executives and decided to increase the normal age from 60 to 63 years.
The decision, taken in line with the groups leadership succession planning, means that both Mr Tshabalala and chief finance and value management officer Mr Daehnke will continue under the existing retirement age of 60, Standard Bank said in a statement.
Tshabalala has served as CEO since 2013, while Daehnke has held his position since 2016. Colleen Goko, c 2025 Reuters