Outgoing JSE CEO Dr Leila Fourie with incoming CEO Valdene Reddy at the Farewell Market Close.
Image: JSE
South Africa’s top financial executives and government officials gathered on Tuesday evening at the Johannesburg Stock Exchange (JSE) for a Farewell Market Close in honour of outgoing CEO Dr Leila Fourie. The event marked the official handover of leadership to Valdene Reddy, who will become the JSE’s third woman CEO.
South Africa’s financial and government leaders gathered at the JSE to bid farewell to outgoing CEO Dr Leila Fourie and welcome Valdene Reddy as the exchange’s third woman CEO. Attendees included Niël Pretorius (DRD Gold), Deputy Minister David Masondo, Minister Parks Tau, SARB Governor Lesetja Kganyago, SARS Commissioner Edward Kieswetter, and former JSE chairs Roy Andersen and Russell Loubser. | JSE
Image: JSE
The ceremony drew a high-profile audience, including Deputy Minister of Finance David Masondo, Minister of Trade, Industry and Competition Parks Tau, South African Reserve Bank Governor Lesetja Kganyago, and SARS Commissioner Edward Kieswetter. Former JSE chairs and CEOs, such as Roy Andersen and Russell Loubser, were also present, along with leading banking executives and legal luminaries including Advocate Thuli Madonsela, Jaco Maree, and Mike Brown.
Outgoing JSE CEO Dr Leila Fourie with Ann Mackeurtan, the first woman allowed to trade as a stockbroker, at the Farewell Market Close in Johannesburg.
Image: Supplied
Niël Pretorius, CEO of DRD Gold – the first company listed on the JSE more than 130 years ago – also attended the event as well as Ann Mackeurtan, the first woman allowed to trade as a stockbroker.
Independent Media editor-in-chief Adri Senekal de Wet with Advocate Thuli Madonsela and JSE’s Ursula du Plooy.
Image: JSE
Dr Fourie, who took the reins from Nicky Newton-King in October 2019, has guided the JSE through unprecedented challenges, including the COVID-19 pandemic, volatile global markets, and rapid technological and regulatory shifts. Under her leadership, the combined market capitalisation of JSE-listed companies grew from approximately R12.6 trillion in 2019 to over R24 trillion today.
Deputy Minister of Finance David Masondo with outgoing JSE CEO Dr Leila Fourie and Advocate Thuli Madonsela.
Image: JSE
“This remarkable expansion is not merely a statistic; it is a reflection of resilience, strategic foresight and confidence in South Africa’s capital markets,” said Adri Senekal de Wet, editor-in-chief of Independent Media. “At a time when global investors scrutinise emerging markets with caution, the JSE has continued to compete robustly for capital flows, whether in equities, bonds or foreign direct investment.”
Independent Media editor-in-chief Adri Senekal de Wet with Niël Petorius, CEO of DRD Gold.
Image: JSE
The ceremonial handover featured the JSE tradition of passing the market horn. Dr Fourie handed it to Reddy, symbolising both the leadership transition and the ongoing progress of women in executive roles.
Former JSE chair Russell Loubser and Marthinus Steyn.
Image: Supplied
“That moment was powerful. It was not only a leadership transition; it was a testament to progress - to the steady but determined reshaping of spaces once overwhelmingly male-dominated,” de Wet said.
Speakers at the event praised Dr Fourie for her integrity, strategic competence, and calm leadership style. On the international stage, she has consistently highlighted South Africa’s financial sector as sophisticated and competitive.
Guests at the Johannesburg Stock Exchange gathered for the Farewell Market Close, celebrating outgoing CEO Dr Leila Fourie and welcoming CEO Valdene Reddy. | JSE
Image: JSE
“She has told a story that is often overshadowed by political noise: that our capital markets infrastructure is world-class; that our regulatory frameworks are robust; that our financial professionals are globally competitive,” de Wet added.
A quartet of violinists entertained guests at the Farewell Market Close.
Image: JSE
The farewell carried a clear message: South Africa continues to produce world-class executives who combine performance with transformation. “Leaders like Dr Fourie remind us that excellence exists within our institutions; that South Africa continues to produce globally respected executives; and that transformation and performance are not mutually exclusive,” de Wet said.
“It is with leaders like Leila Fourie that South Africa can confidently celebrate progress – and look ahead with renewed optimism,” de Wet concluded.