Mr Alan Pullinger will step down as group CEO and will be succeeded by Ms Mary Vilakazi, currently FirstRand’s

chief operating officer (COO). Mr Pullinger’ s career at FirstRand spanned 26 years, including the role of RMB CEO until his promotion to

FirstRand deputy CEO in early 2015. He became group CEO in early 2018 and, at the time of this appointment,

Mr Pullinger indicated to the board a time horizon of six years. As such, succession planning for this role was anchored to his expected departure in 2024. Mr Pullinger will step down as an executive director effective 31 March 2024, but will remain with the group full time until the end of June 2024 to ensure a seamless handover.

Ms Vilakazi joined FirstRand as group COO in 2018 from MMI Holdings, where she held the roles of chief

financial officer (CFO) and deputy CEO. The board is delighted to appoint a strong internal candidate to the

group CEO role. 

As one of three FirstRand executive directors, Ms Vilakazi has worked closely with Mr Pullinger on strategy execution and has successfully led a number of key growth and diversification strategies, including the expansion and improving profitability of the broader Africa portfolio and scaling the insurance business.

Ms Vilakazi has a deep knowledge of the strategies and operations of the underlying portfolio of businesses. She is a member of the group strategic committee, the executive committees and advisory boards of the operating businesses and the group’s financial resource management committee. She is also the CEO of the corporate centre, a role that requires oversight of the key central functions of risk, compliance, treasury and audit. As an executive director, Ms Vilakazi has been a member of the group’s board since 2018.

The board believes these management appointments create significant longevity in critical leadership roles and reflect the benefits of a structured, multi-year succession programme which has resulted in deep talent pools. The ability to promote from within ensures the transition of responsibilities is seamless and collaborative, and that the individuals moving into these new roles have had the necessary experience, tenure and track records of delivery.

These appointments remain subject to regulatory approvals.

Sandton

4 October 2023

Sponsor

Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 04-10-2023 02:30:00