Capitec Bank (CPI) AGM 2025 summary

Opening remarks and agenda

• The AGM was opened with acknowledgment of global and local volatility, emphasizing a clear focus on client service and brand trust.

• Notice of the meeting was properly distributed, quorum confirmed, and voting procedures explained for both in-person and virtual attendees.

Board and executive committee updates

• Announced retirement of Group CEO Gerrie Fourie after 11 years, with Graham Lee appointed as new Group CEO effective the day after the AGM.

• Three directors (Stan D’Haese, Cora Fernandez, Pete Mouton) stood for re-election; two new directors (Raghu Malhotra, Graham Lee) for confirmation.

• Social Ethics and Sustainability Committee members up for re-election included Nadia Bethai, Stan D’Haese, Cora Fernandez, and Ishmael Moola.

Corporate governance

• Board diversity and transformation discussed, with targets for gender and race at board and executive levels, and ongoing training on ESG for directors.

• Remuneration policy and its implementation endorsed, with executive incentives tied to transformation and ESG, though disclosure on ESG metrics to be improved.

• Reappointment of Deloitte and KPMG as joint external auditors until the next AGM.