South Africa’s bourse operator JSE Limited said on Tuesday that Nonkululeko Nyembezi-Heita would take over in 2014 as its new independent, nonexecutive chairperson, the first African and woman to hold the position.
Nyembezi-Heita is stepping down next year as chief executive of ArcelorMittal South Africa, the local unit of the world’s biggest steel maker.
At the JSE, she will be replacing Humphrey Borkum, who was appointed chairman over a decade ago. Nyembezi-Heita will assume her new position after the company’s annual general meeting in 2014 at a date that will be announced in March, the JSE said in a statement.
JSE Limited reported a 35 percent rise in first-half earnings in August, lifted by robust trading on Africa’s biggest exchange that has sent key indices to a series of lifetime records this year.