# Capitec has announced that Group Executive of the Retail Bank division, Graham Lee, is the new CEO. Lee succeeds Group CEO and founding member Gerrie Fourie who will retire at the annual general meeting in July after 25 years in leadership. Under Fourie’s tenure, Capitec grew to South Africa’s leading digital bank with over 24-million clients. Meanwhile, Lee joined Capitec in 2003 holding various strategic positions. The board has confirmed that a smooth transition is underway.
Graham Lee takes over as Capitec’s new CEO in July