Nonkululeko will be taking over from retiring chairman Thulani Gcabashe at the end of May.
Standard Bank has announced the appointment of Nonkululeko Nyembezi as the chairman-designate of the Standard Bank Group and the Standard Bank of South Africa (SBSA) boards.
Nonkululeko will be stepping in for exiting chairman Thulani Gcabashe, who announced his intentions to retire in April, and will be stepping down at the end of May. She will also serve as the chairman of the directors’ affairs committee.
The appointment will see her stepping down from her role as the non-executive chairman of the Johannesburg Stock Exchange. However, she will retain her board memberships at Anglo American and Macsteel Service Centres South Africa.
Nonkululeko joined the Standard Bank Group and SBSA in January 2020 as an independent non-executive director. Her previous experience includes that of board chairman and member of board committees at companies like Alexander Forbes, Old Mutual and Standard Bank Namibia. She has also served as the CEO of ArcelorMittal South Africa.