Nyembezi the first woman to chair Alexander Forbes in 82 years

Nonkululeko Nyembezi-Heita. (Picture: Muntu Vilakazi)
Nonkululeko Nyembezi-Heita. (Picture: Muntu Vilakazi)
Muntu Vilakazi

Cape Town – JSE chairperson Nonkululeko Nyembezi will become the first woman to chair the board of Alexander Forbes in the firm’s 82 year history, the company said in a statement on Wednesday.

“Ms Nyembezi succeeds Mr Sello Moloko and joins the company at a time of strategic and business transformation in the implementation of its Ambition 2022 growth strategy, to create a globally distinctive pan-African financial services leader anchored in five core business pillars,” the company said in a statement.

Nyembezi has held executive and board-level positions in the last 30 years across financial services, mining, IT and telecommunications sectors.

She is currently the chair of the Johannesburg Stock Exchange (JSE) and is an Old Mutual board member.

She is also the chief executive officer of Ichor Coal, an international mining company operating in the thermal coal industry in South Africa.

She was previously the ArcelorMittal SA CEO and before that the chief officer in charge of mergers and acquisitions at Vodacom.

“I leave the board at a particularly exciting time when the company is implementing Ambition 2022,” said Moloko.

“I am confident that under the collective leadership of group chief executive officer, Andrew Darfoor, and Ms Nyembezi, Alexander Forbes will be able to meet its strategic goals.”

Nyembezi said: “Alexander Forbes has a strong and capable management team led by Andrew Darfoor.

"With the support of the board, I am confident of the successful implementation of the strategy for the benefit of our clients, employees, shareholders and investors and the wider community in which our businesses operate.”

Her new role starts on January 1, 2018 and will see her leave Old Mutual’s board before joining Alexander Forbes.

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