JSE CEO stepping down

The company that runs the biggest stock exchange in Africa, JSE Limited, has announced that its CEO, Leila Fourie, will step down on 31 March 2026. She will be succeeded by Valdene Reddy, who will step into the role of JSE CEO on 1 April 2026.

Aside from the top job at the JSE, Fourie has held a number of notable roles throughout her career.

She began her professional journey in the financial services industry at Accenture (formerly Andersen Consulting), where she was a senior manager for over five years.

Fourie went on to work for Standard Bank as Card Division Managing Director, and from 2012 to 2015 she served as an executive director responsible for post-trade and information services at the JSE.

From 2016 to 2019, she held the role of chief executive officer of the Australian Payments Network, where she led Australia’s payment systems, enhancing the security and efficiency of the financial transaction infrastructure.

However, Fourie’s career took a big turn when Nicky Newton-King, the previous CEO of the JSE, retired in 2019.

Since her appointment in 2019, Fourie has led the SE through a transformative period, delivering a turnaround in earnings quality, diversifying the group’s revenue base, and modernising its technology and regulatory frameworks.  

“As a front-line regulator of capital markets, the JSE is committed to robust and transparent regulation,” the company said on Thursday, 9 October. 

“During Fourie’s tenure, the JSE has pursued a series of fundamental reforms of the Listings Requirements, has introduced the Sustainability and Actively Managed ETF segments, and has developed both a private markets platform and a voluntary Carbon Market.”

Fourie has also been active in driving national private sector initiatives in partnership with the chief executives of major South African companies to strengthen South Africa’s capital markets.  

These initiatives, under the leadership of the National Treasury, include Operation Phumelela and various engagements to motivate an upgrade to South Africa’s sovereign credit rating.

Taking over the reins

“Leila has led the JSE with strategic clarity and an unwavering commitment to transformation,” JSE chairman Phuthuma Nhleko said.

“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.”

The JSE’s board expressed its appreciation to Fourie for her leadership and commitment to the exchange and its stakeholders. 

“She leaves the organisation significantly stronger, more agile, and very well-positioned to continue its growth trajectory,” the company said.

Reddy, who will take over Fourie’s role, is currently the JSE’s Director of Capital Markets. 

“I am confident that Valdene’s deep industry expertise, strategic acumen and stakeholder relationships will position the JSE for continued success in a rapidly evolving financial landscape,” Nhleko said. 

“The board is looking forward to working with Valdene to deliver transformative growth for the JSE.”

Reddy said she will focus on accelerating innovation and enhancing the JSE’s competitiveness through ongoing strategic transformation. 

“I look forward to working with our talented team and valued partners to unlock new opportunities for growth and impact,” she said.

Fourie said it has been a privilege to lead the JSE, a national institution that is critical in directing capital towards growth and opportunity across South Africa’s economy.  

“I have sought to channel that purpose and sense of stewardship during my tenure,” she said. 

“I am indebted to my executive team and to all our staff for their commitment to the JSE’s success and for their contributions to building better markets.” 

“I would like to thank all our market participants and regulators for their trust and engagement, and Phuthuma and the JSE board for their unstinting support and counsel.”

“Having served as Group CEO since 2019, I feel the time is appropriate to pass the baton to Valdene as one of our own talents to step forward into this important leadership role.”