Long-serving Capitec CEO Gerrie Fourie is retiring. He will step down at its AGM in July after 25 years in leadership positions at the bank.
Fourie, who is a founding member of Capitec, will be replaced by another Capitec veteran, Graham Lee.
“Under his stewardship as CEO, Capitec transformed from a challenger bank serving five million clients to South Africa’s leading digital bank and a diversified financial services provider serving over 24 million clients,” Capitec said in a statement to investors on Friday. “Gerrie’s leadership has been instrumental in fostering a culture of innovation and growth at Capitec.”
Lee, 50, will succeed Fourie after Capitec’s AGM on 19 July. He has been a member of the group executive team since 2022. He originally joined the bank in 2003 and has held leadership positions in credit, technology and data, and retail operations. Most recently, he has served as group executive do the retail bank division.
“Gerrie and Graham will continue to work closely together over the next four months to ensure a smooth transition,” Capitec said. “Graham will join the Capitec and Capitec Bank Boards effective 19 July.”
Lee has BBusSci (honours) and MBA degrees and is a chartered management accountant. He started his career in investment banking in Zimbabwe in 1997 before continuing in London with Morgan Stanley International.
Career
His career outside of Capitec includes financial software development and data analytics in Australia and leading a microfinance bank in Nigeria, the bank said.
Read: Capitec Connect’s extraordinary growth
Capitec shares were trading 3% lower shortly before 10am on the JSE. — (c) 2025 NewsCentral Media
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