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STANDARD BANK GROUP LIMITED - Appointment Of Chief Executive: The Standard Bank Of South Africa Limited

Release Date: 14/12/2017 14:26
Code(s): SBK     PDF:  
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Appointment Of Chief Executive: The Standard Bank Of South Africa Limited

Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
JSE share code: SBK
NSX share code: SNB
ISIN: ZAE000109815
("Standard Bank Group" or "the Group")


APPOINTMENT OF CHIEF EXECUTIVE: THE STANDARD BANK OF SOUTH AFRICA LIMITED


Standard Bank Group is pleased to announce the appointment of Lungisa Fuzile as Chief Executive of
The Standard Bank of South Africa Limited (“SBSA”) with effect from 15 January 2018. Lungisa Fuzile
takes over from Sim Tshabalala who has served as Chief Executive of SBSA from June 2008 to date.

This appointment follows the recent changes to the Group’s executive structure, which resulted in the
disbanding of the joint group chief executive construct. The leadership of SBSA was a component of
Sim’s responsibilities when he served as the joint-group chief executive. This appointment removes
the dual role for Sim, which had become both unsustainable and inappropriate.

Lungisa Fuzile will be accountable to the board of SBSA, with a matrix reporting line to the Group Chief
Executive, Sim Tshabalala. Lungisa enjoyed a 20-year career in public service, culminating in his role
as Director-General at the National Treasury from May 2011 until May 2017.

The Group looks forward to welcoming Lungisa to Standard Bank.


T S Gcabashe
Chairman

Johannesburg
14 December 2017

Sponsor
Standard Bank

Independent sponsor
Deutsche Securities (SA) (Proprietary) Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

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