At a Glance
- Africa’s biggest banks and miners face leadership exits shaping corporate stability in 2025.
- Aliko Dangote retires from cement and sugar boards, signaling Nigeria’s generational leadership shift.
- South African corporate giants Capitec, Absa, and Sibanye see top executives step down.
Corporate Africa is preparing for a year of significant leadership transitions in 2025, as some of the continent’s most influential executives and chairmen step down after decades of shaping industries from banking and mining to cement and retail.
In South Africa, Capitec Bank CEO Gerrie Fourie, who grew the lender into a digital powerhouse with more than 24 million clients, bowed out in July, while Absa Group sees a double shift with CEO Arrie Rautenbach’s early retirement in April and interim head Charles Russon handed over in June.
Sibanye-Stillwater’s Neal Froneman, credited with turning a gold miner into a global diversified metals group, is set to retire by the end of this September, while Old Mutual’s Iain Williamson exits in August after 32 years. Retailer Pick n Pay also closes an era as long-serving chairman Gareth Ackerman steps down.
Nigeria faces its own milestones with Aliko Dangote retiring as chairman of Dangote Cement in July and Dangote Sugar in June, marking a generational shift at the country’s most valuable conglomerate. In hospitality, Sun International’s Anthony Leeming retired in June after steering a post-COVID recovery. Meanwhile, Uganda’s Equity Bank saw Anthony Kituuka exited in March after driving regional growth.
According to research by Shore Africa, here are 10 corporate leaders who have retired or are preparing to retire in 2025.
1. Capitec Bank
Location: South Africa
Market Cap.: R420 billion ($24.18 billion)
CEO, Capitec Bank: Gerrie Fourie
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.
2. Absa Group
Location: South Africa
Market Cap.: R164 billion ($9.44 billion)
Interim CEO, Absa Group: Charles Russon
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.
3. Absa Group
Location: South Africa
Market Cap.: R164 billion ($9.44 billion)
CEO, Absa Group: Arrie Rautenbach
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.
4. Sibanye-Stillwater
Location: South Africa
Market Cap.: R129 billion ($7.43 billion)
CEO, Sibanye-Stillwater: Neal Froneman
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.
5. Dangote Cement
Location: Nigeria
Market Cap.: N8.71 trillion ($5.84 billion)
Executive Chairman: Aliko Dangote
Retirement date: July 25, 2025
Africa’s richest man, Aliko Dangote, stepped down as Chairman of Dangote Cement Plc, marking the end of an era at Nigeria’s largest cement producer. The company announced the retirement following a board meeting held on July 25, 2025. Aliko Dangote’s leadership of Dangote Cement saw the company’s production capacity increase 52 million tonnes per annum across 10 African countries. It is currently the largest cement maker in Sub-Saharan Africa.
6. Old Mutual Limited
Location: South Africa
Market Cap.: R65.4 billion ($3.76 billion)
CEO, Old Mutual Ltd.: Iain Williamson
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. Equity Bank
Location: Uganda
Market Cap.: Ush5.42 trillion ($1.55 billion)
CEO, Equity Bank: Anthony Kituuka
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.
8. Pick ‘n Pay Limited
Location: South Africa
Market Cap.: R18.8 billion ($1.08 billion)
Chairman, Pick n Pay: Gareth Ackerman
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.
9. Sun International
Location: South Africa
Market Cap.: R10.7 billion ($615.27 million)
CEO, Sun International: Anthony Leeming
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.
10. Dangote Sugar Refinery
Market Cap.: N722 billion ($484.09 million)
Executive Chairman: Aliko Dangote
Retirement date: June 16, 2025
In June, he retired as Chairman of the Board of Dangote Sugar Refinery Plc, bringing an end to a 20-year leadership of the company. His retirement takes effect from June 16, 2025, with Arnold Ekpe, former CEO of Ecobank Transnational, replacing him. Dangote, who has been at the helm of leadership since 2005, is credited with steering Dangote Sugar into a market leader in Nigeria’s sugar industry, overseeing major expansion projects and strengthening corporate governance.
