The JSE has appointed capital markets director Valdene Reddy to succeed Dr Leila Fourie as CEO with effect from April 1, 2026, subject to regulatory approval.

Fourie, who was appointed CEO of the stock exchange in 2019, is retiring as of March 31, 2026.

The JSE states that she led the JSE through a transformative period marked by strategic innovation, operational resilience and inclusive leadership. It notes that she delivered a turnaround in earnings quality, diversified the group’s revenue profile, modernised its core technology and regulatory frameworks, spearheaded a new growth strategy and completed acquisitions across the value chain, including in the financial technology, transfer secretary and share plans businesses.

“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,” comments JSE chairperson Phuthuma Nhleko.

Fourie says it has been a privilege to lead the JSE.

"I am grateful to my executive team and to all our staff for their commitment and contribution to building better markets. I would like to thank our market participants and regulators for their trust and engagement, and both Phuthuma and the JSE board for their unstinting support and counsel.

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

“It is an honour to be appointed as group CEO and I am delighted to lead this institution into its next chapter. 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,” Reddy comments.

“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,” Nhleko adds.

Reddy, who is also a member of the JSE group executive committee, has over two decades of experience in financial markets and has held senior roles at international investment banks. She has worked at the JSE for more than ten years.

She holds a Bachelor of Business Science in Actuarial Science from the University of Cape Town, is a Certified Director with the Institute of Directors South Africa and has completed the Advanced Management Program at Harvard Business School.

The JSE says the six-month leadership transition is expected to be seamless and that investors can expect continued earnings growth supported by diversified revenue streams and disciplined cost management; strategic innovation in capital markets and technology, enhancing the JSE’s competitive positioning; a continued focus on stakeholder relationships and market development initiatives aimed at attracting new listings and capital flows; and operational resilience and regulatory excellence, ensuring long-term sustainability and value creation.