Big executive shakeup at South Africa’s largest property company

Growthpoint announced that it will have a new CEO and CFO at the start of 2026 as part of its long-term succession strategy.

The company also plans to remove the role of South African CEO as part of a broader review of its executive leadership operating model.

The JSE-listed real estate investment trust (REIT) announced on Monday, 11 August, planned leadership appointments. 

Estienne de Klerk will be appointed as Group CEO, effective 1 July 2026, and José Snyders will step into the role of Group CFO on the same date.

“Growthpoint plans leadership changes well in advance to ensure stable, experienced leadership and a strong, embedded culture to deliver sustainable long-term value to its stakeholders,” the company explained.

In 2022, Growthpoint reported that its current Group CEO, Norbert Sasse, would retire from the role. 

He will be succeeded by Estienne de Klerk, whose appointment follows a structured succession planning process overseen by the board over several years.

De Klerk is a Chartered Accountant and a Harvard Business School alumnus, having recently completed the Advanced Management Programme. 

He holds a BCom in Industrial Psychology and a BCom Honours in Marketing and Accountancy from the University of Johannesburg. He is also a certified Master Practitioner in Real Estate (PPRA).

With three decades of experience across banking and listed property, and nearly 20 years with Growthpoint, De Klerk has deep expertise in capital markets, mergers and acquisitions, operations, BBBEE and industry transformation.

He has held numerous leadership roles in the sector, including Chairman of the SA REIT Association, Past President of the South African Property Owners Association and founder of the Property Industry Group. 

He also serves on the boards of key Growthpoint investments, including V&A Waterfront Holdings and Growthpoint Properties Australia.

The board also announced that Gerald Völkel will retire as Group Financial Director on 31 March 2026 and will be succeeded by José Snyders as Group CFO and Executive Director. Snyders is the current CEO of Liberty Two Degrees, a role he assumed following a tenure as both Commercial Director and Financial Director of that company. 

He is a Chartered Accountant with a Bachelor of Commerce degree and two honours degrees specialising in financial analysis and portfolio management and financial accounting. 

He has over 22 years of experience in financial services, investment banking, and listed real estate.

Succession planning

Growthpoint explained that, after 22 years at the company’s helm, Sasse will continue in his role for the current financial year to 30 June 2026, when he will hand the reins over to De Klerk for the 2027 financial year. 

Sasse will also remain with the business in an executive capacity for six months until 31 December 2026, to support a smooth and orderly transition. 

The position of SA CEO will be removed as part of a broader review of the executive leadership operating model.

Völkel and Snyders will work in parallel for three months, from 1 January 2026 to 31 March 2026, to ensure a seamless handover and continuity across the group’s financial operations. 

Völkel will retain responsibility as Group Financial Director for Growthpoint’s FY26 half-year financial reporting and officially hand it over to Snyders on 1 April 2026.

“These appointments reflect Growthpoint’s ongoing commitment to stable, long-term leadership ensuring the company is well positioned to continue delivering strategic and operational performance,” the company said. 

“This includes its stated objectives of improving its South African portfolio and optimising its international investments.”

“This is a natural and timeous transition to new leadership to take Growthpoint into its next chapter,” Growthpoint chairman Rhidwaan Gasant said. 

“We are pleased to announce Estienne de Klerk’s appointment as Group CEO, which represents strong continuity and deep corporate knowledge, while the appointment of José Snyders as Group CFO injects a fresh perspective into the mix.”

“The board is pleased with the implementation of its leadership succession plan and is confident that these appointments will deliver value for shareholders.”