Valdene Reddy announced as new JSE CEO, taking over from retiring Leila Fourie

 Leila Fourie, the dynamic leader of the Johannesburg Stock Exchange (JSE), has announced her retirement as Group Chief Executive Officer effective 31 March 2026.

As Fourie prepares to step down, the JSE Board has appointed Valdene Reddy, the current Director of Capital Markets, as the new Group Chief Executive Officer effective 1 April 2026.

The Board expressed confidence that Reddy's extensive industry expertise and strategic insights will enable the JSE to navigate the challenges of an evolving financial landscape successfully.

Since her appointment in 2019, Fourie has guided the JSE through a significant transformation, characterised by strategic innovation, operational resilience, and, notably, a strong commitment to inclusive leadership.

Fourie's tenure has not only been defined by robust financial outcomes but also by a fervent dedication to sustainability and regulatory excellence. Under her stewardship, the JSE has experienced a remarkable turnaround in earnings quality, broadened its revenue base, and modernised its technology and regulatory frameworks, positioning the institution as a cornerstone of South Africa's capital markets.

As a front-line regulator, the JSE has undertaken substantial reforms during Fourie’s leadership, including updates to the Listings Requirements, the launch of the Sustainability and Actively Managed ETF segments, and the establishment of a private markets platform alongside a voluntary Carbon Market.

These initiatives have further solidified the JSE's reputation as a favoured venue for diversified capital formation, attracting local and international investors alike.

In addition to her operational achievements, Fourie has actively collaborated with leading figures in the South African private sector to bolster the country's capital markets.

Her engagement with initiatives such as Operation Phumelela, in conjunction with the National Treasury, aims to motivate an upgrade to South Africa's sovereign credit rating, thereby enhancing the overall economic standing of the country.

Phuthuma Nhleko, chairman of the JSE Board, praised Fourie's exemplary leadership, “Leila has led the JSE with strategic clarity and an unwavering commitment to transformation. Her tenure has been marked by innovation, operational resilience and a deep sense of purpose. Under her leadership, the JSE has delivered a robust financial performance and has become a more inclusive, collegiate, and future-fit institution.”

Nhleko remarked on Reddy’s appointment, and said, “I am confident that Valdene’s deep industry expertise, strategic acumen and stakeholder relationships will position the JSE for continued success.”

Reddy herself expressed enthusiasm for her new role, stating, “It is an honour to be appointed as Group CEO, and I am delighted to lead this institution into its next chapter.” She emphasised her commitment to accelerating innovation and enhancing competitive advantage through strategic transformation, further adding, “I look forward to unlocking new opportunities for growth and impact.”

Reflecting on her time as CEO, Fourie shared, “It has been a privilege to lead the JSE, a national institution that plays such a critical role in directing capital towards growth and opportunity across our economy. I am indebted to my executive team and to all our staff for their commitment to the JSE’s success.”

As the organisation prepares for this transition, it stands at a pivotal moment, equipped with a solid foundation thanks to Fourie's leadership, and looking ahead towards a future ripe with potential under Reddy's guidance.

BUSINESS REPORT