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VENTURES AFRICA – Nonkululeko Nyembezi-Heita, the Arcelor Mittal CEO who is currently serving a notice period at Africa’s biggest steel maker, has been appointed independent non-executive chair of the JSE Limited, Africa’s biggest bourse said on Tuesday.
Nyembezi-Heita, who joined the JSE board in 2009, this past Monday said she would be stepping down as CEO of Arcelor Mittal in February next year.
At the time, she did not give reasons for her resignation nor did she say which company she was going to join next.
She had been the head of the steel firm’s South African operations for the past six years and had been credited with stabilising the underperforming firm.
On Tuesday, Nicky Newton-King, the CEO of JSE Limited, said Nyembezi-Heita would succeed the current chair Humphrey Borkum, who will retire in March next year at the JSE’s annual general meeting.
Borkum joined the JSE Board 13 years ago as deputy chair and became chair of the bourse in 2002.
“Humphrey’s role in the evolution of the JSE business over the decades in our industry has been immense,” said Newton-King.