At a Glance
- Sibanye’s Neal Froneman exits after seeing the miner through difficult times in the mining industry with bold acquisitions over more than a decade.
- Capitec’s Gerrie Fourie modernized retail banking through digital-first strategies and inclusion-focused growth, setting new standards for simplicity in African finance.
- Absa and Old Mutual’s leadership transitions reflect broader C-suite realignments as financial institutions navigate tech shifts, and pan-African expansion goals.
A wave of high-profile CEO departures in 2025 signals a generational shift in Africa’s corporate leadership.
Shore Africa profiles ten of the continent’s most influential executives stepping down after trailblazing tenures with impactful contributions to their industries.
From Neal Froneman, who transformed Sibanye-Stillwater into a global mining powerhouse, to Gerrie Fourie, who revolutionized retail banking at Capitec, these leaders have redefined performance standards and strategic ambition.
In financial services, Charles Russon and Arrie Rautenbach at Absa, alongside Iain Williamson of Old Mutual, navigated their institutions through digital transformation, regional growth, and economic headwinds—cementing their legacies as architects of stability and innovation.
In hospitality, Anthony Leeming restored Sun International’s profitability, while Fundi Sithebe broke new ground as the first Black woman to head a major horse racing operator.
Meanwhile, Akinwumi Adesina’s decade at the African Development Bank reshaped infrastructure financing and climate-focused investment on the continent.
This transition reflects a maturing corporate governance culture, with succession planning and leadership renewal taking center stage.
As Africa faces complex challenges—energy, jobs, and fiscal reforms—new executives are expected to build on these legacies, emphasizing sustainability, digital transformation, and regional integration.
The departing CEOs leave behind institutions more agile, inclusive, and aligned with Africa’s growth ambitions.
1. Neal Froneman – CEO, Sibanye-Stillwater (South Africa)
Retirement date: September 30, 2025
Neal Froneman will retire on September 30, 2025, after 12 transformative years leading Sibanye-Stillwater. Under his leadership, the company evolved from a South African gold miner into a global diversified metals producer. Froneman spearheaded major acquisitions, including Stillwater Mining in the U.S., and expanded into battery metals and recycling. He also served as chairman of the World Gold Council and contributed to industry bodies like the ICMM.
2. Gerrie Fourie – CEO, Capitec Bank (South Africa)
Retirement date: July 18, 2025
Gerrie Fourie is set to retire on July 18, 2025, after 11 years and five months as CEO and over two decades with Capitec. He transformed the bank from a challenger institution with 5 million clients into South Africa’s leading digital bank, serving over 24 million clients. Under his tenure, Capitec diversified its services, launched Capitec Connect, and achieved significant financial growth.
3. Charles Russon – Interim CEO, Absa Group (South Africa)
Last date as inrerim CEO : June 16, 2025
Charles Russon was appointed interim CEO of Absa Group on October 15, 2024, following Arrie Rautenbach’s early retirement announcement. Previously, Russon served as CEO of Absa’s Corporate and Investment Bank since 2018. His interim leadership is expected to ensure continuity as Kenny Filha will take over by June 17, 2025.
4. Gareth Ackerman – Chairman, Pick n Pay (South Africa)
Retirement date: August 2025
Gareth Ackerman will retire as chairman by August 2025, concluding a 14-year tenure in the role and 40 years with the company. During his leadership, Pick n Pay faced increased competition and declining market share. Ackerman’s departure is part of a broader restructuring aimed at revitalizing the retailer’s performance.
5. Arrie Rautenbach – CEO, Absa Group (South Africa)
Retirement date: April, 2025
Arrie Rautenbach announced his early retirement, effective April 15, 2025, after a 27-year career at Absa, including two years as CEO. His tenure focused on digital transformation and operational efficiency. Rautenbach will be on garden leave until his official retirement date.
6. Iain Williamson – CEO, Old Mutual Ltd. (South Africa)
Retirement date: August 31, 2025
Iain Williamson is set to retire on August 31, 2025, after 32 years with Old Mutual, including five years as CEO. His leadership emphasized customer-centric strategies and digital innovation. The company has initiated the search for his successor.
7. Cas Coovadia – CEO, Business Unity South Africa (BUSA)
Retirement date: January 2025
Cas Coovadia will step down in January 2025 after leading BUSA since its inception. He played a pivotal role in positioning BUSA as a leading business organization in South Africa. Khulekani Mathe, the current deputy CEO, will succeed him.
8. Anthony Leeming – CEO, Sun International (South Africa)
Retirement date: June 30, 2025
Anthony Leeming will retire as CEO of Sun International on June 30, 2025, after serving in the role since 2017 and with the company for over 20 years. Under his leadership, the group stabilized its balance sheet, exited underperforming international assets, and refocused on core South African operations. Leeming successfully navigated Sun International through the COVID-19 crisis, restored profitability, and expanded digital gaming through SunBet. He championed sustainable tourism practices and elevated the brand’s premium positioning in the hospitality and casino sectors. He will be succeeded by Ulrik Bengtsson, who will take over as CEO-designate.
9. Anthony Kituuka – CEO, Equity Bank Uganda
Retirement date: March 1, 2025
Anthony Kituuka resigned on March 1, 2025, after serving as CEO since November 2022. He has been with Equity Bank Uganda since 2016, contributing to its growth and regional expansion. Gift Shoko has been appointed as his successor.
Others are:
Fundi Sithebe – CEO, 4Racing (South Africa)
Fundi Sithebe will step down as CEO of 4Racing on May 31, 2025, after nearly four years at the helm. Appointed in June 2021, she made history as the first Black woman to lead a major horse racing operator in South Africa. Sithebe played a pivotal role in stabilizing the newly privatized company, implementing governance structures, securing licensing renewals, and expanding the sport’s audience through media partnerships. Her tenure marked a strategic shift towards modernization and inclusion in South African horse racing. She leaves behind a stronger and more transparent 4Racing platform, with the board preparing to appoint a new leader.
Akinwumi Adesina – President, African Development Bank (AfDB)
Akinwumi Adesina will complete his second term as President of the African Development Bank in September 2025, marking a decade of transformative leadership. During his tenure, Adesina spearheaded the “High 5” strategy—prioritizing energy access, food security, industrialization, integration, and improved quality of life across Africa. Under his leadership, AfDB secured record capital increases and launched key initiatives like the Africa Investment Forum and Desert to Power. A strong advocate for climate resilience and infrastructure financing, Adesina elevated AfDB’s global standing. As his presidency ends, the bank has initiated a transition process to select his successor and sustain its growth momentum.
