Standard Bank Group Limited has appointed Nonkululeko Nyembezi as the first female Black chairperson, with effect from 1st June 2022.
Nonkululeko Nyembezi replaces Thulani Gcabashe, who will retire after the annual general meeting on 31st May 2022.
Prior to her appointment, Nyembezi served as chairman of the Johannesburg Stock Exchange (JSE) Limited, and was previously the CEO of steel firm ArcelorMittal South Africa Ltd.
Nyembezi has also previously served as the chair of Alexander Forbes Group Holdings, a non-executive director of Old Mutual, the CEO of ArcelorMittal SA, and a non- executive director of Standard Bank Namibia.
Her role as the non-executive chair of the JSE ended on 3rd May 2022, but she will remain a board member at Anglo American and Macsteel Service Centres SA. She was appointed to Standard Bank’s board in January 2020 as a non-executive director.
It’s a great, positive step for transformation for the banking sector. Hopefully, we can work toward bringing in new and different faces for board appointments in future so that transformation can be even more meaningful.
Nolwandle Mthombeni, a banking analyst at research and consulting firm Intellidex.