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Changes To The Board Of Directors: Capitec Bank Ceo Riaan Stassen Set To Retire As He Turns Sixty
Capitec Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/025903/06)
(JSE share code: CPI & ISIN: ZAE000035861 and CPIP & ISIN:
ZAE000083838)
("Capitec" or "the company")
CHANGES TO THE BOARD OF DIRECTORS: CAPITEC BANK CEO RIAAN
STASSEN SET TO RETIRE AS HE TURNS SIXTY.
It is with regret that the Board announces today that Riaan
Stassen, Capitec Bank’s pioneering CEO and one of its
founders, has decided to retire as CEO of the retail bank at
the end of December 2013. He turned sixty during the month of
August 2013. Riaan will continue to serve on the Boards of
Capitec and its wholly-owned banking subsidiary Capitec Bank
(“Capitec Bank”), as a non-executive director after his
retirement. He was the heart of the management team that
established the innovative bank which has brought a new
dimension to banking in South Africa since 2000.
Michiel le Roux, Chairman of Capitec, lauded Riaan for being
an exceptional entrepreneur who created a unique bank. The
bank has acquired over 5 million clients in a highly
competitive industry and in the process has created more than
8 000 new jobs in South Africa.
The Chairman and Board thank Riaan on behalf of all
stakeholders for his role over the past 13 years and for being
an innovator in an industry that is dominated by tradition.
The Board is pleased to announce that Riaan will be succeeded
as CEO by Gerrie Fourie on 1 January 2014. Riaan and Gerrie
will co-operate over the next three months to ensure a smooth
transition from one CEO to the next. Gerrie is 49 and has been
an executive member of the Capitec Bank management team since
its inception in 2000. He is responsible for Sales and
Operations, which includes the 589 branch network of the bank.
Before joining Capitec Bank, Gerrie Fourie was employed in a
senior position at Stellenbosch Farmers Winery. Gerrie was
appointed to the Boards of Capitec and Capitec Bank on 20
September 2013.
25 September 2013
Stellenbosch
Sponsor
PSG Capital (Pty) Limited
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