The time for the changing of the guard at Capitec, the digital bank valued at R238.9 billion, is finally here.
Shareholders were informed on January 12 of the retirement of Du Plessis, and the appointment of Grant Hardy as his successor effective tomorrow.
Du Plessis was part of a team that guided the firm to successfully challenge the traditional Big Four, Standard Bank, FNB, Nedbank and Absa.
Hardy has also been appointed as a member of the Risk & Capital Management Committee in replacement of Du Plessis who retired as a member of the said committee on June 30.
“The board is confident that Grant’s experience and knowledge of the Capitec Group will support the continued growth of Capitec,” it said.
Capitec shares yesterday were trading down at 1.65 percent at R2 023.95 in late afternoon trade. The shares are up an impressive 151.12 percent over five years as the bank has steadily grown and now boasts 14.7 million active clients, according to its website.
BUSINESS REPORT