Land Bank on the hunt for new CEO after Hadebe’s term ends
After being seconded from the National Treasury to head up agriculture-focused lending institution, the Land Bank, in 2008, CEO Phakamani Hadebe, whose term of office came to an end on December 3, has stepped down.
The bank said in a statement that it was working in consultation with Finance Minister Pravin Gordhan to finalise the appointment of a new CEO and expected the process to be completed soon.
In the interim, chief risk officer Lindiwe Mdlalose, who has been in her position since 2009 and who is responsible for the overall enterprise risk management portfolio of the bank, had been named interim CEO, with effect from December 4.
She has 17 years’ experience in the credit risk management sector, during which time she was employed in various positions at Nedbank, UBS Securities and Standard Chartered Bank, where she was responsible for the sub-Saharan Africa portfolio.
Chief legal officer and acting chief strategy officer Jerome Mthembu said on Wednesday that, under Hadebe’s leadership, the Land Bank team had managed to build a financially viable institution and restore investor confidence.
“He has left a solid foundation on which we can build greater successes,” he commented.
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