FirstRand CEO to retire as deputy takes over
FirstRand has announced that group CEO, Johan Burger will retire effective 31 March 2018.
In a shareholder statement released on Tuesday morning, the financial services group said that Burger will remain as an executive director until 31 August 2018, and subject to regulatory approval, will transition to a non-executive director on 1 September 2018.
Alan Pullinger, who is currently group deputy CEO, will take Burger’s place as group CEO.
In addition, Mary Vilakazi, previously deputy CEO of MMI Holdings Limited (MMI), will be appointed group COO and executive director effective 1 July 2018, the banking group said.
“The board is pleased to announce a smooth group CEO succession process, which is possible following Alan’s appointment as deputy CEO three years ago. Since then, Johan and Alan have been jointly driving execution on the group’s growth strategies,” said Laurie Dippenaar, chairman of FirstRand.
Dippenaar added that the appointment of Mary Vilakazi as group COO adds significant strategic and operational capacity at an executive management level, particularly given her experience and track record.
“Expanding the insurance profit pools in FirstRand’s domestic business is one of the most significant levers for future growth and shareholder value creation and the board is excited to have someone of Mary’s calibre driving that strategy,” said Dippenaar.
“Mary’s time at MMI also means she has an excellent understanding of the financial services regulatory environment, which will be a critical underpin to the domestic strategy of delivering integrated financial services to our customers.”
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