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FIRSTRAND LIMITED - Senior executive changes at FirstRand Limited

Release Date: 22/05/2013 10:00
Code(s): FSR FSRP     PDF:  
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Senior executive changes at FirstRand Limited

FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE Share code: FSR   ISIN: ZAE000066304
JSE "B" Preference Share Code: FSRP    ISIN: ZAE000060141
NSX Ordinary Share Code: FST
 
Senior executive changes at FirstRand Limited

FirstRand Limited advises shareholders that Dr Michael Jordaan will
step down as Chief Executive Officer of its FNB Division at the end of
2013 and that Mr Jacques Celliers has been appointed to succeed him.

Dr Jordaan first indicated to the FirstRand Board in 2010 his
intention to step down at the end of 2013 to spend more time with his
family. At that point, as CEO of FNB for 10 years, he would have
achieved the strategic and operational objectives that he had set out
for the business at the beginning of his tenure.

Mr Celliers (41), a member of the FNB Executive Committee, graduated
as an Engineer from the University of Stellenbosch in 1994. In 1998 he
completed an MBA at the University of Cape Town's Graduate School of
Business and was an exchange student at Wharton College, University of
Pennsylvania in the USA.

He is currently the CEO of FNB Business Banking and Head of FNB’s
India expansion. The necessary regulatory process with the Registrar
of Banks has been concluded.

In his 12 years at FNB Mr Celliers has managed a number of initiatives
particularly focusing on innovative entry strategies in certain new
markets that FNB identified for expansion and joint ventures. Prior to
being appointed CEO of Business Banking he ran FNB Credit Card and FNB
Retail Foreign Exchange.

The Board is confident that the FNB management team, under the
leadership of Mr. Celliers, will continue on its successful strategic
growth path. During his career at FNB Mr. Celliers has demonstrated a
unique ability to bring innovative thinking to both the strategic
opportunities and operational challenges of retail and commercial
banking.
FirstRand thanks Dr Jordaan for his tenure at FNB where he oversaw a
period of significant growth in profits, innovation and excellent
returns to shareholders. Over the past nine years, FNB’s earnings have
grown at an annual compound growth rate of 15%.

FirstRand expects Dr Jordaan to continue his involvement with the
Group in a non-executive capacity on its various boards and
committees.



Sandton
22 May 2013

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

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