Alan Pullinger is stepping down as FirstRand’s chief executive
Alan Pullinger is stepping down as FirstRand’s chief executive and will be replaced by Mary Vilakazi, the banking group announced on Wednesday.
Pullinger will leave the position after six years in the job. Vilikazi’s promotion as his successor means she will become the first black woman chief executive of one of South Africa’s big five banks. She is also the first woman to head the 185-year-old company.
Vilakazi joined FirstRand as the group’s chief operating officer in 2018. She has worked closely with Pullinger on strategy execution and successfully led a number of key growth and diversification strategies, according to Wednesday’s statement.
The leadership change is effective from 1 April next year. Commenting on the development, Pullinger said stepping down would be a seamless process.
“It has been a tremendous honour and privilege to be a part of, and to lead, FirstRand and I have full confidence in handing over the baton to Mary and her new leadership team.”
Vilakazi said she was delighted to be entrusted with leading one of the largest and most profitable financial institutions in Africa.
“During his tenure, Alan has demonstrated inspirational leadership and I have been privileged to work in partnership with him and the broader team. I take over at a time when the portfolio is in good shape in all of its jurisdictions,” she added.
Jacques Celliers will also be stepping down as chief executive of FirstRand subsidiary FNB. After 10 years in the position, Celliers will take up a new role with executive responsibility for the group’s fintech strategy.
FirstRand chief financial officer Harry Kellan will take over from Celliers. Kellan will be succeeded by Markos Davias, FNB’s current chief financial officer.
The group also announced that board chair Roger Jardine will step down on 30 November, to be replaced by former FirstRand chief executive Johan Burger.