Johannesburg, 09 October 2025: Since her appointment in 2019 she has delivered a turnaround in earnings quality, diversified the Group’s revenue base, and modernised its technology and regulatory frameworks.  Fourie’s leadership has extended beyond financial performance and operational excellence. She has championed inclusive leadership, sustainability, transformation and regulatory excellence.

As a front-line regulator of capital markets, the JSE is committed to robust and transparent regulation. 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, all of which position the JSE as a preferred venue for diversified capital formation.

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 National Treasury, include Operation Phumelela and various engagements to motivate an upgrade to South Africa’s sovereign credit rating.

Phuthuma Nhleko, JSE Chairman noted: “Leila has led the JSE with strategic clarity and an unwavering commitment to transformation. 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. On behalf of the Board, I extend our heartfelt gratitude to Leila for her exceptional stewardship and the enduring legacy she leaves behind.”

The Board expresses its deep appreciation to Fourie for her leadership and commitment to the JSE and its stakeholders. She leaves the organisation significantly stronger, more agile, and very well-positioned to continue its growth trajectory.

The Board has appointed Valdene Reddy as the Group Chief Executive Officer, effective 1 April 2026.  Valdene is currently the Director of Capital Markets at the JSE.  The Board is confident that Reddy’s deep industry expertise, strategic acumen, and stakeholder relationships will position the JSE for continued success in a rapidly evolving financial landscape.

Phuthuma Nhleko remarked: “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. The Board is looking forward to working with Valdene to deliver transformative growth for the JSE.”

“It is an honour to be appointed as Group CEO, and I am delighted to lead this institution into its next chapter,” says Valdene Reddy. “My focus will be on accelerating innovation and enhancing our 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.”

Outgoing CEO Leila Fourie commented that: “It has been a privilege to lead the JSE, a national institution that plays such a critical role in directing capital towards growth and opportunity across our economy.  I have sought to channel that purpose and sense of stewardship during my tenure.  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.

Leading an institution like the JSE provides a unique platform to contribute to our national agenda and the positioning of South Africa’s capital markets on the global stage. 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, ” concludes Fourie.

ENDS

ABOUT THE JSE 

The Johannesburg Stock Exchange (JSE) has a well-established history operating as a market place for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. 

The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 137 years. As a leading global exchange, the JSE co-creates, unlocks value and makes real connections happen.  www.jse.co.za