Capitec CEO, Gerrie Fourie.
Image: Supplied
Capitec Bank Holdings’ founding member and CEO Gerrie Fourie retires at the bank’s annual meeting on July 18, 2025, after being part of the management team for 25 years.
Graham Lee (50) will succeed Fourie on July 19, 2025. Lee has been a member of the group executive team since 2022. He joined Capitec in 2003 and has held numerous positions in credit, technology and data, retail operations, and most recently, as group executive of the Retail Bank division.
Fourie and Lee will continue to work closely together over the next four months to ensure a smooth transition, chairman Santie Botha said in a statement Friday. Capitec's share price fell 3.6% in early morning trade on Friday to R3106.53.
She said that during Fourie’s tenure, Capitec had transformed from a challenger bank serving 5 million clients to South Africa's leading digital bank and a diversified financial services provider serving over 24 million clients.
“Gerrie's leadership has been instrumental in fostering a culture of innovation and growth at Capitec,” Botha said.
She said Fourie had built a strong and diverse leadership team ready to carry the bank into the future. To this end, the executive structure had also been expanded to establish divisional executive teams responsible for the retail bank, business bank, insurance company, and strategic initiatives, leaving a strong senior leadership team.
Lee will join the Capitec and Capitec Bank boards on July 19, 2025.
He holds BBusSci (Hons) and MBA degrees and is a Chartered Management Accountant. He has over 25 years of working experience in various financial and technology businesses in 5 different countries: Zimbabwe, the UK, Australia, and Nigeria, in addition to South Africa.
He started his career in investment banking in Zimbabwe in 1997 before continuing in London with Morgan Stanley International. His career outside Capitec includes financial software development and data analytics in Australia and leading a micro-finance bank in Nigeria. He also lectured part-time for the MBA programme of the University of Stellenbosch Business School.
Business Report