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Announcement of Chairman Elect
STANDARD BANK GROUP LIMITED
Registration number 1969/017128/06
Incorporated in the Republic of South Africa
Website: www.standardbank.com/reporting
SHARE CODES
JSE and A2X share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
SBKP ZAE000038881 (First preference shares)
SBPP ZAE000056339 (Second preference shares)
JSE bond code: SBKI
(“Standard Bank Group” or “the group”)
Announcement of Chairman Elect
In compliance with paragraph 3.59 of the JSE Limited (“JSE”) Listings Requirements and paragraph 6.39
of the JSE Debt Listings Requirements and further to the announcement released on the Stock Exchange
News Service on 31 March 2022 in relation to the retirement of Mr Thulani Sikhulu Gcabashe at the
conclusion of the upcoming annual general meeting on 31 May 2022, the Group is pleased to announce
the appointment of Ms Nonkululeko Nyembezi as the Chairman designate of the boards of Standard
Bank Group and The Standard Bank of South Africa Limited (SBSA).
Ms Nyembezi will take over as Chairman of the Group and SBSA Boards, as well as Chairman of the
Directors’ Affairs Committee, with effect from 1 June 2022. This appointment followed a robust
succession planning process that was ably led by the Group’s Lead Independent Director. The Group
has also obtained the necessary Prudential Authority clearance for the appointment.
Ms Nyembezi was appointed to the boards of Standard Bank Group and SBSA in January 2020 as an
independent non-executive director. She is a seasoned and respected leader with extensive experience
in diverse industries, gained from many years as an executive and board member. Her experience
includes that of board chairman and member of board committees, with core expertise in strategy,
planning, execution, governance and corporate stewardship and a proven record as a leader in diverse
and complex organisations. Ms Nyembezi’s previous roles include the chairman of Alexander Forbes
Group Holdings, non-executive director of Old Mutual, CEO of ArcelorMittal South Africa and non-
executive director of Standard Bank Namibia.
An MBA graduate from the Open University Business School, United Kingdom, Ms Nyembezi also
completed her MSc (Electrical Engineering) from the California Institute of Technology.
In line with the time commitment associated with her new role, Ms Nyembezi has reviewed her current
commitments. Her role as the non-executive chairman of the Johannesburg Stock Exchange came to an
end on 3 May 2022 and her external engagements will therefore be her board memberships at Anglo
American plc and Macsteel Service Centres South Africa.
The boards congratulate Nonkululeko on her appointment and look forward to her leadership.
Johannesburg
10 May 2022
Lead sponsor - The Standard Bank of South Africa Limited
Independent sponsor - JP Morgan Equities South Africa Proprietary Limited
Namibian sponsor - Simonis Storm Securities (Proprietary) Limited
Date: 10-05-2022 08:30:00
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