STANDARD BANK GROUP LIMITED - Standard Bank announces executive director role changes

Standard Bank announces executive director role changes

Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK ISIN: ZAE000109815
NSX share code: SNB NSX share code: SNB ZAE000109815
(“Standard Bank Group” or “the Group” or “the Company”)

STANDARD BANK ANNOUNCES EXECUTIVE DIRECTOR ROLE CHANGES

Following a carefully planned management succession process Standard Bank Group
announces changes to its current joint-group chief executive structure. The board is satisfied
that the structure, which was necessary in 2013, has met and in many respects exceeded
expectations. Accordingly, Ben Kruger steps down from the role of joint-group chief executive
with immediate effect. He remains an executive director of the company, reporting to the group
chief executive.

Sim Tshabalala continues in the role of group chief executive of Standard Bank Group and
chief executive of The Standard Bank of South Africa Limited.

“The board expresses appreciation to both Ben and Sim, who have successfully led the
process of refreshing the group’s strategy and managed complex challenges which faced the
group in several jurisdictions, while delivering respectable returns to our shareholders. The
resounding success of the joint-group chief executive structure is testament to the group’s
culture and values which include working in teams, respecting each other and upholding the
highest levels of integrity. Good momentum has been achieved in the implementation of the
group’s refreshed strategy,” said Group Chairman Thulani Gcabashe.

The board appreciates Ben’s selfless leadership and is pleased that he remains part of the
leadership team going forward.

Ben’s new role will include: Contributing to the governance of the group as a member of the
group board; contributing to the leadership, management and governance of Africa Regions;
guiding the continued digitisation of the group; deepening and broadening the group’s
relationship with its strategic partner ICBC; helping with the management of the Group’s risks;
and maintaining and building key client relationships.


Johannesburg
12 September 2017

Lead Sponsor
The Standard Bank of South Africa Limited

Independent Sponsor
Deutsche Securities (SA) Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

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