“It gives us time for a smooth transition,” says Brown. “Until then, I will remain in my current position.”
It is a job she will hold for seven years, like Formby before her and Alan Pullinger before him. “It is a different approach compared to other banks in South Africa, but it has served us well in the past,” she says.
“It means that every seven years, a new CEO can bring in fresh thinking and new energy to the role,” says Brown.
“A seven-year rotation means that an incumbent is focused to deliver maximum impact on the organisation during their time at the helm,” she says.