{"id":38367,"date":"2013-05-22T10:23:59","date_gmt":"2013-05-22T08:23:59","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=38367"},"modified":"2013-05-22T10:43:16","modified_gmt":"2013-05-22T08:43:16","slug":"fnb-ceo-jordaan-steps-down","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/38367\/fnb-ceo-jordaan-steps-down\/","title":{"rendered":"FNB CEO Jordaan steps down"},"content":{"rendered":"

Listed financial services group, FirstRand<\/a> has announced that Dr Michael Jordaan<\/a> will\u00a0step down as CEO of its FNB Division<\/a> at the end of\u00a02013.<\/p>\n

Jacques Celliers<\/a>, who is currently the CEO of FNB Business Banking and head of FNB\u00b4s
\nIndia expansion,\u00a0\u00a0has been appointed to succeed him.<\/p>\n

“Dr Jordaan first indicated to the FirstRand Board in 2010 his\u00a0intention to step down at the end of 2013 to spend more time with his\u00a0family,”\u00a0FirstRand said.<\/p>\n

“At that point, as CEO of FNB for 10 years, he would have\u00a0achieved the strategic and operational objectives that he had set out\u00a0for the business at the beginning of his tenure.”<\/p>\n

Jordaan commented that whilst he was sad to be leaving, the bank was in great shape. \u201cRecently voted the most innovative bank in the world and with a clear leadership position in digital banking and innovative banking channels, FNB will continue with its successful strategy of generating new technologies and cost-effective products for our customers,\u201d he said.<\/p>\n

Sizwe Nxasana<\/a> CEO of FirstRand said:\u00a0\u201cI am confident that the FNB management team, under the leadership of Jacques will continue on its successful growth path.\u00a0 During his career at FNB Jacques has demonstrated a unique ability to bring leadership and innovative thinking to many aspects of FNB\u2019s operations.<\/p>\n

\u201cWe fully understand Michael\u2019s desire to spend more time with his young family, and recognize that his 5 years of commuting weekly from Cape Town has been a significant sacrifice. A naturally empowering leader he has built a team around him that can continue with that legacy. We are also fortunate that Michael will continue his involvement with the Group in a non-executive capacity on various boards and committees.\u201d<\/p>\n

Celliers (41), a member of the FNB Executive Committee, graduated\u00a0as an Engineer from the University of Stellenbosch in 1994. In 1998 he\u00a0completed an MBA at the University of Cape Town’s Graduate School of\u00a0Business and was an exchange student at Wharton College, University of\u00a0Pennsylvania in the USA.<\/p>\n

“FirstRand thanks Dr Jordaan for his tenure at FNB where he oversaw a period of significant growth in profits, innovation and excellent\u00a0returns to shareholders.<\/p>\n

“Over the past nine years, FNB\u00b4s earnings have\u00a0grown at an annual compound growth rate of 15%.<\/p>\n

“FirstRand expects Dr Jordaan to continue his involvement with the Group in a non-executive capacity on its various boards and\u00a0committees,” the bank said.<\/p>\n

\"Michael<\/a>

Michael Jordaan stepping down<\/p><\/div>\n

More on FNB<\/h3>\n

Are banking CEOs paid their worth?<\/strong><\/a><\/p>\n

FNB a digital-only bank?<\/strong><\/a><\/p>\n

Biggest SA banks shock<\/strong><\/a><\/p>\n

People are not switching banks: survey<\/strong><\/a><\/p>\n

FNB launches app for tablets<\/strong><\/a><\/p>\n

FNB\u2019s digital boom<\/strong><\/a><\/p>\n

FNB online banking surges 27%<\/strong><\/a><\/p>\n

FNB banking app hits transactions landmark<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FirstRand has announced that Dr Michael Jordaan will step down as CEO of its FNB Division at the end of 2013.<\/p>\n","protected":false},"author":10,"featured_media":30598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[4088,76,26],"class_list":["post-38367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-firstrand","tag-fnb","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/38367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=38367"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/38367\/revisions"}],"predecessor-version":[{"id":38375,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/38367\/revisions\/38375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/30598"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=38367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=38367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=38367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}