REG - Standard Bank Group Standard Bank of SA - SBG New Chairman Elect

Anglo AmericanAnnouncement

10/05/2022 09:45

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RNS Number : 9220K  Standard Bank Group Limited  10 May 2022

Standard Bank Group Limited

10 May 2022

 

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.

 

For further information, please contact:

Ann Hunter

Standard Bank Group Limited

9th Floor

5 Simmonds Street, Johannesburg PO Box 2001

South Africa

Telephone number: +27 11 415 4194

 

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