The appointment comes as the search for a permanent CEO is at an advanced stage.
The board of Land Bank has announced the appointment of current executive for strategy and communications Sydney Soundy as its acting CEO with immediate effect.
The appointment comes as chief risk officer Kone Gugushe, who has been acting as CEO, tendered her resignation. She will continue to serve as chief risk officer up to 31 March.
In a statement, the board expressed its appreciation for the contribution made by Gugushe during her employment with the bank and wished her well in her future endeavours.
The bank said that the process to appoint a permanent CEO is at an advanced stage with an announcement expected in due course.
Soundy is a seasoned executive with experiences in both the public and private sectors.
Having joined the bank in August 2015, Sydney held the role of executive manager of commercial development banking before being appointed to his current role at the beginning of May 2017.
Soundy has over 30 years’ of executive management and financial services experience, a majority of which have included senior management roles in both the private and public sector at institutions including COO at the South African National Parks, assistant general manager at the South African Revenue Services, managing executive for vehicle and asset finance at Absa and head of vehicle and asset finance at Standard Bank.
