FNB chief exits to spend time with family

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MichaelJordaanFNBTWO Independent Newspapers. First National Bank chief executive Michael Jordaan. Picture: Boxer Ngwenya.

Johannesburg - Outgoing First National Bank (FNB) chief executive Michael Jordaan wants to travel, spend time with his family, and perhaps become an entrepreneur when he steps down at the end of the year.

“I feel sad to a degree of course. For me FNB is like a family. So it's like a family that I'm leaving behind,” he told reporters in Johannesburg on Wednesday.

Jordaan said he was also happy, because he was leaving the company in good hands.

“The best is yet to come,” he said.

The bank announced on Wednesday that Jordaan, 45, would step down at the end of 2013, after 10 years at the helm of First National Bank.

He had indicated in 2010 that he would step down at the end of 2013.

“It's been public knowledge actually,” Jordaan said.

He felt that 10 years as chief executive should be long enough.

“I've been commuting for five years (between Cape Town and Johannesburg). Clearly I just want to spend some time to reintegrate with my family.”

Jordaan said he also wanted to travel and possibly enter the entrepreneurial arena.

“I really want to take some time. I'm going to resist the urge to do anything too quickly,” he said.

Jordaan would be succeeded by Jacques Celliers, 41.

“This is a big compliment,” Celliers said.

“I can honestly say that I can't think of a better place, a business, I'd rather be working for.”

Celliers is a member of the FNB executive committee, chief executive of FNB Business Banking, and heads FNB's Indian expansion.

He used to run FNB's credit card and retail foreign exchange divisions.

He joined the company 12 years ago in an eCommerce developmental role and helped with the launch of eBucks.com. - Sapa

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