Changes to the Board
STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE and A2X Share code: SBK
Namibian Share Code: SNB
(“Standard Bank Group” or “the Company”)
CHANGES TO BOARD
1. APPOINTMENT OF DIRECTORS
Having obtained the requisite clearance from the Regulator, the Standard Bank
Group is pleased to announce the appointment of Bafelelang Priscillah Mabelane
and Nonkululeko Merina Cheryl Nyembezi to its board of directors (“Board”) and
that of The Standard Bank of South Africa Limited as independent non-executive
directors with effect from 1 January 2020.
Priscillah Mabelane CA(SA) (46), BComm (Hons), PGD Accounting, HDip Tax, AMP, is
the chief executive officer of BP Southern Africa. Prior to her current role, she
held various executive positions within BP United Kingdom, BP Southern Africa,
Airports Company South Africa and Ernst Young. Ms Mabelane is currently a non-
executive director of Vodacom Group Limited and Shell and BP South African
Petroleum Refineries Proprietary Limited.
Nonkululeko Nyembezi (59) BSc (Hons), MSc (Electrical Engineering), MBA is
currently the chief executive officer and executive director of Ichor Coal N.V.
Prior to this, she was the chief executive officer of ArcelorMittal South Africa.
Ms Nyembezi, is the outgoing chairman of Alexander Forbes Group Holdings and non-
executive chairman of JSE Limited and Macsteel Service Centres South Africa
2. APPOINTMENT OF CHAIRMAN-ELECT OF THE REMUNERATION COMMITTEE AND LEAD INDEPENDENT
Shareholders are advised that Peter Sullivan will retire from the Company’s board
at the close of the Company’s 2020 Annual General Meeting. His role on the Board
includes being the chairman of the Group Remuneration Committee (Group Remco) as
well as that of Lead Independent Director.
In compliance with paragraph 3.59(c)of the JSE Limited Listings Requirements, the
Board advises that it has approved the appointment of Gesina Maria Beatrix (Trix)
Kennealy as the chairman-designate of Group Remco. Upon the retirement of Peter
Sullivan in May 2020, Trix Kennealy will take over as chairman of Group Remco as
well as the Board’s Lead Independent Director.
Trix Kennealy is an independent non-executive director having been appointed to
the Company’s board in 2016. She is the chairman of the Group Audit Committee
and a member of Group Remco and the Group Risk and Capital Management Committee.
She holds a BCom (Pretoria), BCom (Hons)(UJ)and has extensive banking and
29 November 2019
The Standard Bank of South Africa Limited
JP Morgan Equities South Africa Proprietary Limited
Simonis Storm Securities (Proprietary) Limited
Date: 29-11-2019 01:00:00
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