South African bourse operator JSE Ltd said its long-time CEO will step down at this end of this year, and will be replaced by his deputy Nicky Newton-King.
The JSE, which runs the Johannesburg Stock Exchange, said in a statement that Russell Loubser (60), who has been CEO since 1997, will step down on December 31.
Newton-King has been his deputy of eight years and will become the first woman to head the exchange in its 123-year existance.