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Changes To The Board Of Directors:
Retirement Of Capitec Group CEO, Gerrie Fourie And Appointment Of New Group CEO
Capitec Bank Holdings Limited
Registration number 1999/025903/06
Incorporated in the Republic of South Africa
Registered bank controlling company
Ordinary Share Code: CPI ISIN Number: ZAE000035861
Preference Share Code: CPIP ISIN Number: ZAE000083838
("Capitec")
Capitec Bank Limited
Registration number 1980/003695/06
Incorporated in the Republic of South Africa
Registered bank
Company code: BICAP
("Capitec Bank")
CHANGES TO THE BOARD OF DIRECTORS:
RETIREMENT OF CAPITEC GROUP CEO, GERRIE FOURIE AND APPOINTMENT
OF NEW GROUP CEO, GRAHAM LEE
In accordance with paragraphs 3.59 and 6.39 of the JSE Limited
Listings and Debt Listings Requirements, the Board advises that
Gerrie Fourie, founding member and Group CEO of Capitec, will
retire at Capitec's annual general meeting to be held on 18
July 2025. Gerrie has been part of the executive management
team for the past 25 years. Under his stewardship as CEO,
Capitec transformed from a challenger bank serving 5 million
clients to South Africa's leading digital bank and a
diversified financial services provider serving over 24
million clients. Gerrie's leadership has been instrumental in
fostering a culture of innovation and growth at Capitec.
Gerrie has built a strong and diverse leadership team poised
to carry the Bank into the future. To this end, the executive
structure was expanded to establish divisional executive teams
responsible for the retail bank, business bank, insurance
company and strategic initiatives leaving a strong senior
leadership team enriched with expertise, experience and deep
institutional knowledge.
Santie Botha, Chairman of Capitec, commended Gerrie for his
exceptional leadership and strategic vision. The Boards thank
Gerrie on behalf of all stakeholders for his unwavering
dedication and the transformative impact that he has had on
Capitec.
The Board is pleased to announce that Graham Lee will succeed
Gerrie on 19 July 2025. Graham is 50 years of age and has been
a member of the Group Executive team since 2022. Graham joined
Capitec in 2003 and has held numerous strategic positions in
credit, technology and data, retail operations, and most
recently, as Group Executive of the Retail Bank division.
Gerrie and Graham will continue to work closely together over
the next four months to ensure a smooth transition.
Graham will join the Capitec and Capitec Bank Boards effective
19 July 2025.
Summary of Graham's curriculum vitae:
Graham holds BBusSci (Hons) and MBA degrees and is a Chartered
Management Accountant. He has over 25 years of working
experience in various financial and technology businesses in 5
different countries: Zimbabwe, United Kingdom, Australia and
Nigeria, in addition to South Africa. He started his career in
investment banking in Zimbabwe in 1997 before continuing in
London with Morgan Stanley International. His career outside
of Capitec includes financial software development and data
analytics in Australia and leading a micro-finance bank in
Nigeria. He also lectured part-time for the MBA programme of
the University of Stellenbosch Business School.
28 March 2025
Stellenbosch
Capitec Equity and Debt Sponsor: PSG Capital Proprietary
Limited
Date: 28-03-2025 08:40:00
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