The JSE has appointed 10-year veteran Valdene Reddy to succeed Leila Fourie as the group’s new CEO, embarking on a leadership shake-up as SA equities go from strength to strength.
Reddy, who is currently the JSE’s director of capital markets, will be the third woman to take the helm, continuing a trend of female CEOs leading the local stock exchange.
Fourie leaves the bourse in good standing, with her departure coming as SA’s capital markets have risen to record heights this year, supported by soaring gold and platinum group metal prices.
The bourse’s all share index has more than doubled since Fourie’s appointment in October 2019, reaching a record high of 111,093 points on Thursday. It has added more than 30% this year as geopolitical uncertainty spurred investor interest in SA Inc.
During her tenure, Fourie implemented a number of reforms at the JSE, including a once-in-a-generation shake-up last year, in which the JSE split its main board into two segments, the prime and general, to curtail the flight of small-cap companies.
In a statement, the JSE said Fourie had 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”.
JSE chair Phuthuma Nhleko said: “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.”
Reddy brings two decades of financial markets experience and a decade of experience at the JSE. In a statement on Thursday, she said her focus would be on “accelerating innovation and enhancing our competitiveness through ongoing strategic transformation”.
“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,” said Fourie.
“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.”
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