Capitec CEO Gerrie Fourie to Retire – Meet His Successor

Capitec CEO and co-founder Gerrie Fourie will retire in July 2025 after 25 years at the bank, leaving behind a legacy of innovation and exponential growth.

He will be succeeded by Graham Lee, who has been with Capitec since 2003 and currently leads the personal banking division.

More moves in South Africa’s Banking Boardroom

After 25 years, founding member and CEO of Capitec, Gerrie Fourie is calling it a day

He plans to officially retire at the banks annual meeting on July 18

He will be succeed by a Capitec in house executive Graham Nel pic.twitter.com/YkqRyKUt5P

— Fifi Peters (@FifiPeters) March 28, 2025

Fourie’s Legacy: Transforming Capitec Into SA’s Leading Digital Bank

Since becoming CEO in 2014, Fourie has led Capitec’s expansion from a challenger bank with 5 million clients into South Africa’s largest digital bank, now serving over 24 million clients.

When he joined the executive team, Capitec had just 55 branches and 25,000 clients. Today, it boasts nearly 900 branches and is a dominant player in personal and business banking.

Reflecting on his journey, Fourie shared:

“It has been an extraordinary privilege to lead Capitec through a period of tremendous growth and transformation – from a challenger bank to a diversified financial services provider trusted by millions.”

Meet Capitec’s Incoming CEO: Graham Lee

Fourie will hand over the reins to Graham Lee on July 19, 2025.

Lee has over 25 years of banking experience and has held multiple strategic roles at Capitec since 2003. He currently heads the personal banking division, making him well-positioned to lead the company into the future.

Announcing the transition, Fourie expressed confidence in his successor:

“Graham’s leadership, deep understanding of our business, and values-driven approach make him the ideal person to take Capitec forward.”

CEO APPOINTMENT

Capitec Bank, the largest bank in South Africa by customer count, has appointed Graham Lee (pictured) as its new chief executive officer as Gerrie Fourie prepares for retirement.

Lee, currently leading the bank’s retail division, will officially assume the role… pic.twitter.com/19QvlTwZwL

— Business Explainer (@BuzinessX) March 28, 2025

What This Means for Capitec’s Future

With a strong foundation in digital banking and financial services, Capitec’s leadership transition is expected to be seamless. Lee’s appointment signals a commitment to stability and continuity as Capitec continues its growth trajectory in the South African banking sector.

{Source African Insider}

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