# Capitec has announced the retirement of founding non-executive director Chris Otto, effective July 31, 2026. Otto has served on the bank’s board since its inception and will also step down from the Risk and Capital Management Committee. Capitec thanked him for his leadership and contribution to the group’s growth. Otto co-founded PSG Group and played a key role in establishing Capitec in 2001. He has also been involved in education, social justice and literacy initiatives through the Otto Foundation.
Capitec founding director Chris Otto announces retirement