JOHANNESBURG – Nicky Newton-King, Chief Executive Officer of the Johannesburg Stock Exchange (JSE), has announced her retirement after eight years at the helm of Africa’s biggest securities exchange, the JSE said on Tuesday.
Chairman Nonkululeko Nyembezi said in a statement: “During 2018 Nicky indicated to the board a desire to step down, both for reasons of good governance and after such a long career at the JSE.”
According to Nyembezi, Newton-King made her decision “so that the next stage of the JSE’s journey could be led by someone new”.
Newton-King was the first female CEO to lead the JSE in its 125 year history. She started at the company 23 years ago. According to local reports, she plans to take a year off.
The board has appointed Commonwealth Bank of Australia executive Leila Fourie as group CEO with effect from October 1, the JSE said. The South African expat was previously an executive director at the JSE, as well as holding a senior position at Standard Bank and sitting on the board of Diners Club SA.
(Reporting by Nqobile Dludla/Reuters and Jenni Baxter/SAPeople)