South African Businessman and Former Chairman of Nedbank, Vassi Naidoo is Dead

Vassi Naidoo Death – Obituary: The corporate world has lost a giant with the untimely passing away of Vassi Naidoo, chairman of Nedbank since 2015, after a long battle against cancer.

Vassi, 66, was indeed a true trailblazer, born and bred in the soil of Cavendish. He rose within the ranks of Deloitte and became CEO of Deloitte Southern Africa from 1998 to 2006, a member of the Deloitte UK Executive from 2006 to 2009 and a member of the Deloitte Global Executive from 2007 to 2011. Thereafter he was Vice-chair of Deloitte UK from 2009 to 2014.

Vassi was a member of the South African Institute of Chartered Accountants, with honorary lifetime membership granted in 2011 for his contribution to the development of the profession in SA. He was also a member of the Institute of Chartered Accountants in England and Wales and a Professor of Practice in the Department of Accountancy at the University of Johannesburg.

Naidoo was appointed chairperson of Nedbank in 2015 after retiring from the accounting firm Deloitte in 2014, where he had spent 37 years.

Naidoo completed his BCom degree and Diploma in Accounting at the University of Durban Westville. He joined Deloitte in 1977 and qualified as a chartered accountant in 1979.

Vassi was also the chairperson of private real estate development company Gateway, Delta Development Holdings and of the WWF Nedbank Green Trust. He also sat on the board of Liquid Telecommunications.
Vassi was a perfect gentleman. Despite his meteoric career advancement, he never lost the common touch. May his soul, through the grace of God, rest and rise in peace.

He was appointed  CEO of Deloitte Southern Africa in 1998 and chairperson of the Africa Board in 2004. During his tenure at Deloitte, he worked in Africa, Europe, Russia and India, and also served on the global executive of Deloitte.

“We are grateful for his guidance, leadership and wise counsel,” said Nedbank CEO Mike Brown. “He has always been considered a pioneer in his field and he used his position of influence as Nedbank chairman to bring about positive change and dedicated much of his time to finding ways to improve the lives of every South African, including being the catalyst, alongside Pravin Gordhan and the late Jabu Mabuza, for the CEO Initiative.” Mabuza died of Covid-19 in June this year.

More than 90 CEOs joined the CEO Initiative in 2015 to help stave off an economic crisis and liaise with government.

Vassi is survived by his wife Sheila who was a teacher, their two children and 4 granddaughters. Obituary and Funeral Arrangements are still pending…