Willem Theron, who founded PSG Financial Services 28 years ago, will retire as the group’s chair in July, ending an illustrious career.
The company on Thursday said Theron will step down at the conclusion of the group’s annual meeting, slated for July.
“Having founded the company in 1998, Willem was instrumental in establishing and growing the wealth advisory business. He stepped down as CEO in 2013 and continued to serve as non-executive chairperson thereafter,” the group said in a regulatory filing.
“The board expresses its sincere appreciation and gratitude to Willem for more than 27 years of dedicated service and visionary leadership. His unwavering commitment to the company’s values has left an enduring legacy.
“South Africans will continue to benefit from the expert financial advice and comprehensive financial services offering he helped build.”
Theron will be replaced by erstwhile Santam CEO Lizé Lambrechts as board chair. Lambrechts has been on the board since July 2023.
“She has extensive experience in the financial services industry and has fulfilled various senior executive roles within the Sanlam Group. She served for 12 years as the CEO of Sanlam Personal Finance, whereafter she assumed the role of Santam’s CEO for seven years,” the company said.
“Lizé also served as chairperson of the South African Insurance Association and Life Offices Association. The board extends a warm welcome to Lizé in her new role and looks forward to her continued contribution.”
PSG Financial Services has had stable leadership over the years, with CEO Francois Gouws having been in the role since 2013, when he replaced Theron, having been identified as his successor a year before.
The group’s stock has rallied more than 200% over the past five years, with the company valued at R35bn on the JSE.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.