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JSE CEO Nicky Newton-King to retire 

Board accepts decision and will appoint Dr Leila Fourie as incoming chief executive.

The chief executive of Johannesburg stock exchange JSE Ltd, Nicky Newton-King, will retire at the end of September after eight years at the helm of Africa‘s biggest securities exchange, the bourse said on Tuesday.

“During 2018 Nicky indicated to the board a desire to step down, both for reasons of good governance and after such a long career at the JSE,” Chairman Nonkululeko Nyembezi said in a statement.

She made her decision “so that the next stage of the JSE’s journey could be led by someone new,” Nyembezi said.

The board has appointed Commonwealth Bank of Australia executive Leila Fourie as group CEO with effect from October 1, the firm said. 

Read the full announcement below

JSE 201907300048A

Retirement of CEO and appointment of new CEO

JSE LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 2005/022939/06)

Share Code: JSE

ISIN Code: ZAE000079711

(‘JSE’ or ‘the Group’)

RETIREMENT OF CEO AND APPOINTMENT OF NEW CEO

In compliance with paragraph 3.59 of the JSE Listings Requirements,

shareholders are advised that Nicky Newton-King will retire as Chief

Executive Officer of the JSE on 30 September 2019. The Board has appointed

Dr Leila Fourie as Group Chief Executive Officer, effective 1 October 2019.

Nicky Newton-King – retiring Chief Executive

Nicky has been Chief Executive for the past eight years, having previously

served as the JSE’s Deputy CEO for eight years and, prior to that, in

various other executive roles in a 23 year career at the JSE.

In this time, Nicky has driven significant milestones, not least the

demutualisation and listing of the JSE, the acquisition of the SA Futures

Exchange and the Bond Exchange of SA, and the joint venture with

FTSERussell. As CEO, Nicky has also led the Group through the successful

implementation of a number of major technology projects which have

fundamentally transformed the JSE’s trading and clearing service offerings

and has championed the importance of business being a socially responsible

participant on matters critical to the National agenda. These initiatives

have contributed substantially to the JSE’s positioning as a leading,

multi-asset class exchange, and have enabled the significant growth

experienced by the JSE over the past decade.

Nonkululeko Nyembezi, JSE Chairman notes that: ‘During 2018 Nicky indicated

to the Board a desire to step down, both for reasons of good governance

and after such a long career at the JSE, so that the next stage of the

JSE’s journey could be led by someone new. The Board has, with great

regret, accepted her decision. The Board joins me in thanking Nicky for

putting her heart and soul into the JSE over the past 23 years. She leaves

the JSE stronger, more diverse, more technologically advanced, commercially

savvy and client focused; well positioned to continue building on its

successes in the current landscape.’

Nicky Newton-King notes that: ‘It has been the privilege of a lifetime to

lead the JSE. Having led and been involved in so many of the JSE’s key

strategic initiatives over the last 23 years my finger prints are on much

of the DNA of the JSE today. But, after eight years as Deputy CEO and eight

years as CEO, I feel it is appropriate to step down – there is a time at

which a CEO needs to step back and allow an institution to be led by a new

energy and that time, for me, is now.’

Nicky will be available to the JSE and to Leila until the end of 2019.

Dr Leila Fourie – incoming Group Chief Executive

Following an extensive search, the Board is delighted to announce that

Leila Fourie has been appointed as CEO with effect from 1 October 2019.

Leila is a seasoned business executive having previously served as an

executive director of the JSE, and her career of more than 25 years spans

the capital markets, payment systems, consulting, investment banking and

retail banking. Through the course of her career, Leila has held senior

executive positions and directorships of global portfolios and local and

US boards.

Leila holds a PhD in Economic & Financial Sciences and is a Graduate of

the Australian Institute of Company Directors (GAICD).

Nonkululeko Nyembezi notes that: ‘Leila has extensive and diverse

experience in local and multinational companies, including Commonwealth

Bank of Australia, the Australian Payments Network, Accenture and Standard

Bank. Leila brings a wealth of experience in capital market products and

technology to the JSE and so it is a particular pleasure to welcome her

back to the JSE and South Africa.’

‘I am thrilled to be returning to the JSE and look forward to working with

the JSE team to continue building the JSE’s position as a leading emerging

market exchange,’ says Leila Fourie.

Sandton

30 July 2019

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 30/07/2019 03:55:00

Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).

The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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COMMENTS   1

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I wonder how complicit NNK and the JSE are through their inaction with numerous shenanigans of various listed entities.

End of comments.

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