Johannesburg - Phakamani Hadebe has stepped down as Land Bank CEO, the bank said in a statement on Thursday.
Hadebe's term of office ended on Tuesday, and the bank's chief risk officer Lindiwe Mdlalose would act in the role in the interim, the Land Bank said.
Its board, in consultation with Finance Minister Pravin Gordhan, was working to finalise the appointment of a new CEO. This process was expected to be completed soon.
Hadebe was transferred from the National Treasury to the Land Bank in 2008 and was subsequently appointed CEO of the bank.
Mdlalose, who was a member of Hadebe's core team, has extensive experience in financial services and has worked in credit risk management for 17 years.