| Imagery Source: JSE Limited |
| Information Source: Share Net |
| In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Dr Leila Fourie will retire as Group Chief Executive Officer of the JSE on 31 March 2026, having completed a successful tenure in this role since 2019. The Board has appointed Ms Valdene Reddy as Group Chief Executive Officer, effective 1 April 2026, subject to regulatory approval. |
| Dr Leila Fourie – retiring Group Chief Executive Officer |
| Dr Fourie has led the JSE through a transformative period marked by strategic innovation, operational resilience and inclusive leadership. |
| Since her appointment in 2019, Leila has delivered a turnaround in earnings quality, diversified the Group’s revenue profile and modernised its core technology and regulatory frameworks. She has spearheaded a new growth strategy and completed acquisitions across the value chain, including in the fintech, transfer secretary and share plans businesses. |
| Leila’s focus has extended beyond financial performance and operational resilience. She has championed inclusive leadership, sustainability, and transformation. Under her leadership, the JSE has pursued a series of fundamental listings reforms and the development of new markets, all in support of deeper, more accessible financial markets that position the JSE as a preferred venue for diversified capital formation. |
| Leila has also been active in driving national private sector initiatives, such as Operation Phumelela, in partnership with the chief executives of major South African companies and under the leadership of the National Treasury. |
| Mr Phuthuma Nhleko, JSE Chairman, noted: “Leila has led the JSE with strategic clarity and an unwavering commitment to transformation. Her tenure has been marked by innovation, operational resilience and a deep sense of purpose. Under her leadership, the JSE has delivered a robust financial performance and has become a more inclusive, collegiate and future-fit institution. On behalf of the Board, I extend our heartfelt gratitude to Leila for her exceptional stewardship and the enduring legacy she leaves behind.” |
| The Board expresses its deep appreciation to Dr Fourie for her leadership and commitment to the JSE and its stakeholders. She leaves the organisation significantly stronger, more agile, and very well-positioned to continue its growth trajectory. |
| Leila Fourie commented: “It has been an immense privilege to lead the JSE, a national institution that plays such a critical role in directing capital towards growth and opportunity across our economy. I have sought to honour that purpose and responsibility of stewardship. I am grateful to my executive team and to all our staff for their commitment and contribution to building better markets. I would like to thank our market participants and regulators for their trust and engagement, and both Phuthuma and the JSE Board for their unstinting support and counsel. Having served as Group CEO since 2019, I feel that the time is appropriate to pass the baton to Valdene, as one of our own talents, to step forward into this important leadership role.” |
| Ms Valdene Reddy – Incoming Group Chief Executive Officer |
| Ms Reddy is currently the Director of Capital Markets at the JSE and a member of the Group Executive Committee. |
| She brings over two decades of experience in financial markets, including senior roles at international investment banks and more than ten years at the JSE. Her leadership has been instrumental in driving strategic growth, product innovation and operational excellence across the Group’s largest revenue-generating division. |
| Valdene holds a Bachelor of Business Science in Actuarial Science from the University of Cape Town, is a Certified Director with the Institute of Directors South Africa and has completed the Advanced Management Program at Harvard Business School. |
| Phuthuma Nhleko remarked: “I am confident that Valdene’s deep industry expertise, strategic acumen and stakeholder relationships will position the JSE for continued success in a rapidly evolving financial landscape. The Board is looking forward to working with Valdene to deliver transformative growth for the JSE.” |
| “It is an honour to be appointed as Group CEO, and I am delighted to lead this institution into its next chapter,” says Valdene Reddy. “My focus will be on accelerating innovation and enhancing our competitiveness through ongoing strategic transformation. I look forward to working with our talented team and valued partners to unlock new opportunities for growth and impact.” |
| Investor Impact |
| The leadership transition is expected to be seamless, with Ms Reddy’s appointment providing strategic continuity. Investors can anticipate: |
- Continued earnings growth supported by diversified revenue streams and disciplined cost management.
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- Strategic innovation in capital markets and technology, enhancing the JSE’s competitive positioning.
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- A continued focus on stakeholder relationships and market development initiatives aimed at attracting new listings and capital flows.
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- Operational resilience and regulatory excellence, ensuring long-term sustainability and value creation.
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| The six-month transition is designed to ensure a smooth handover, with Leila working closely with Valdene during this time. The Board is confident that this leadership transition will reinforce investor confidence and support the JSE’s ambition to remain a leading exchange in emerging markets. |
| For the full document, click the link below |
| JSE Limited |
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