By Reuters
South Africa’s Capitec Bank said on Friday that Group CEO and founding member Gerrie Fourie will retire in July after 11-1/2 years at the helm, and named Graham Lee, the group executive of its retail bank division, as his successor.
Fourie has been on the executive management team for the past 25 years. He become the CEO in January 2014 and will retire at the annual general meeting to be held on July 18.
“Under his stewardship as CEO, the company transformed from a challenger bank serving 5 million clients in 2014 to South Africa’s leading digital bank and a diversified financial services company serving over 24 million personal and business clients”, the lender said in a statement.
Santie Botha, Chairman of Capitec’s Board added that Fourie has not only facilitated significant growth and innovation “but has also built a strong and diverse leadership team, poised to carry the group into the future.”
As the lender diversified over the last four years, Fourie expanded the executive structure to include divisional executive teams responsible for the personal bank, business bank, insurance company, and strategic initiatives.
Lee, 50, has been a member of the group executive committee since 2022. He joined Capitec in 2003 and has held numerous strategic positions in credit, technology and data, and personal bank operations.
Basani Maluleke will succeed Graham Lee as group executive for the personal bank division, Capitec said.
Reuters
