$4Cct2023$

Big changes for FNB $-$ new CEO announced in major leadership shuffle.

FirstRand has anncunced key leaderstip changes at the group, with both group CEO Aan Pulinger and FNB CEO Jacques

Caliars moving on from their roles.

Acconding to the group. Alan Pulinger wil slep down as group chief exeadive officar $($CEO$)$ and will be succeeded by Mary

vilakazi, currently grup chiel aparaling clficer $($COO$)$

FNB CEO Jacques Caliers will be slapping doan and taking up a new role taking axocufive responsitilcy for the group's

fintech stalegy. He wil be sucseeded by FrstRand group chisf financial offcer, Hary Kellan.

The changes will take ellect fom $1$ April $2024.$

Pullinger leaves a long and successful career at FirstRand, spanring $26$ years, including the role of RMB CEO until his

promotion to Firstiand deputy CEO in early $2015.$

He beeame gropp CEO in eary $2018$ and, al the line of this apointment, ind caled to te boand a jme torizen of six years

As such succession piarning for this rake has boen anchared to his expectod departure in $2024.$

Vilakazj joined Firstfiand as group COO in $2018$ from MAAL Holdings, where she held the roies of chief inancial oticer $($CFC$)$

and deputy CEO.

As ane of tree FirstRand exacuive directers, she has worked dicsaly with Pulinger an strategy execulion and successhily

led a number of key growh and dicersilicalien strategies.

"Wiakazi is clase to the strateges and operations of the underiying porticlio of businessas through her membership of the

execulive commillees and ackiscry toards of the operating businesses. As the CEO of the corporale centre, she has

coersight of the key pentral funcfors of risk, pompiance, treasury and audt', FirstRand said.

Mary Vilakazi, fomer FirstRand group COO, new group CEO

FNB changes

Aher len years as CEO of FNB$,$ Jacques Celiers will lake up a rew role wilh eneculive respansbility for lie greup's finlech

stralegy, which is to develep revenue stemams frem activities ancilary fo francial servibes

"Kany of these activities have been built within FNB over a number of years, including, amongst others, fee tWWO and the

nave Itestyle offerings, both of which are gaining traction wth custamers. The group beleves this strategy now requires

dedicated laadership ta scale and grow,$\text{'}$ it said.

During his tenure as CEO of FNB$,$ Celliers led a succossful customer$-$centric strategy, supported by an innoyative

sechnclogy buid that resuled in FNB becoming the market leeser for digitaly anablad financial services.

"This track record mears Cellers is uniqualy plased to execute on te frtech strategy," the group said.

Harty Kelian will take c$/$eer as CEO of FNB aher ten years as CFO of FirstRand.

Kellan jained FNB in $2065$ and spent seven years as CFO, ather which he was appointed FirstRand CFO in $2014.$ Kellan's

Ieng terure at FNB priar to his group rale posilions him well la now lead the largest cuslomer franchise in the parffia.

As a long$-$stancing mertber of the ratai and cormercial execuive commities and the FNB advisory board, Kelan has been

involeed in shaping many of the key stralegies FNB is executrgon.

Hary Kelan, fermer FirstRand CFO, new FNB CEO

Kellan wil be succeeded as group CFO by Markas Davias, the curent CFO of FNB$.$

Proc to trangferring to FNB in $2020,$ Davias was CFO of RMB from $2015.$

'Davias's tenure as CFO of the twa largest framchises in the group make him the ideal candidate for greup CFO He has

workad dicsalf with Iir Kolan for over a decads, and this will onsure a smosth and efficient handover," Frsfiand said.

Gideon Joubert, currently the CFO of the grcup's brcacer Atrica pottclio, will take over from Davias as FNB CFO; he will be

succeeded by Taulaega Waja, currently the heod of france for the brosder Mtrica portlalo.

The group also amounced that current chaiman, Rager Jardine, wil slep down al FirstRand's AGM an $30$ November $2023$

and the baard has appointed Johan Eurger as thairman effecfiee $1$ Decerrber $2029.$

Question $2$

$[15$ Marks$]$

Identry and evaluate twa environmental factors dacussed in the case study that have a sigvificant impact on the marketrg

of FirsiRand and FNB$.$ Explain how these factors infuence te markatng stralegies of the organization.