Nicky Newton-King on transforming Stellenbosch University, leading through change, and navigating global shifts
In a recent interview, former JSE CEO and Stellenbosch University Council chair Nicky Newton-King discussed transforming Stellenbosch amid controversy, promoting inclusive leadership, and balancing her international board roles. She emphasised active listening and values-based leadership as essential for navigating complex changes in both academia and the global business landscape.
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In a recent conversation with BizNews Briefing's Bronwyn Nielsen, Nicky Newton-King, former CEO of the Johannesburg Stock Exchange (JSE) and current chairman of Stellenbosch University Council, shared her insights on several pressing issues facing South Africa's education system, corporate governance, and global economic landscape.
As Newton-King tackled each topic, she painted a picture of the complexity inherent in her roles. She has a multifaceted portfolio, not only in South Africa but also internationally, with board memberships spanning MTN, Investec, and AngloGold Ashanti. Her perspectives, shaped by years in the corporate and educational sectors, highlight her commitment to inclusive leadership and adapting to modern-day challenges.
Stellenbosch University and the Wilgenhof Controversy
The conversation quickly turned to one of the more controversial issues currently facing Stellenbosch University: the Wilgenhof controversy. Newton-King had recently penned an op-ed in the Daily Maverick addressing the uproar surrounding Wilgenhof and shared her views on the matter.
"Stellenbosch University is home to 35,000 students, over half of whom are Black and over half of whom are women. This is surprising to many people who may still view it as a conservative institution," Newton-King explained. She emphasized that the institution's commitment to diversity and inclusion remains steadfast, even amid widespread public scrutiny. Since January, when the Wilgenhof story broke, over 1,700 articles have been written on the topic, she noted.
Newton-King acknowledged that while the media attention underscores the importance of the issue to both alumni and the broader public, the noise around it has made necessary changes more challenging. The university council has implemented a rejuvenation process to address the historical tensions associated with Wilgenhof, aiming to reshape its culture in a way that embraces all students, regardless of background.
"It's disappointing because it detracts from what a university should be focused on: the academic project. Stellenbosch is an incredible academic institution, and our priority is to create an inclusive environment where all stakeholders belong," she stated.
For Newton-King, the way forward is to engage all stakeholders in meaningful dialogue. She called for "lowering the temperature," recognizing that change is often painful but necessary to foster a truly inclusive environment. "This is an opportunity for Stellenbosch to show how one can navigate pain in fractured spaces and move forward," she said.
Life Beyond the JSE: Board Roles and Varied Sectors
Newton-King also reflected on her transition from the JSE to a variety of board roles in both national and international companies, including MTN, Investec, and AngloGold Ashanti. "The diversity of these sectors—financial services, telecommunications, and mining—provides intellectual stimulation and challenges me in unique ways," she remarked.
Her work on these boards brings a global perspective to her leadership. Each organization operates in distinct markets with different regulatory environments and stakeholder expectations. For instance, Investec is listed in both South Africa and the UK, MTN operates extensively across Africa, and AngloGold is domiciled in the UK while being listed in the United States.
When asked if her board roles give her a consistent view of "South Africa Inc.," she explained that while there's a shared sense of challenge at the macroeconomic level, each company has its own approach to navigating these challenges. She noted that, for example, AngloGold's operations outside South Africa impact its relationship with the country differently compared to companies deeply rooted in the local market.
Newton-King highlighted a hopeful sentiment she's noticed in South African boardrooms, where there is a collective commitment to resilience. She commended the continued dedication of South Africans to build and work toward a stable future despite economic headwinds.
Reflections on International Politics and Business Implications
Newton-King also offered her thoughts on the international political scene, specifically the resurgence of Trump-style populism in the United States and its potential impacts on business values. "I find it challenging to reconcile some of the values espoused by Trump with what many corporations stand for," she said, alluding to Trump's positions on issues like climate change and social inclusivity.
Newton-King posed a critical question for businesses: "How sure are you about your commitment to the values we've historically held as crucial to unity?" The impact of political shifts on corporate values, she warned, would increasingly test companies as they navigate global pressures.
Further, she questioned the disconnect between media predictions and political outcomes, reflecting on how media and polling missed the mark on Trump's popularity. This, she noted, should prompt introspection about the assumptions people make in understanding the general public's priorities. As more governments globally pivot towards the right, Newton-King sees it as a reminder for companies to stay grounded in values that bring people together, rather than divide them.
Navigating Change Through Active Listening
At the core of Newton-King's approach to leadership—whether in boardrooms, academic institutions, or through public commentary—is a commitment to what she calls "active listening." She believes that real progress is achieved when leaders prioritize understanding over competition. "In a multi-stakeholder space, you have to crowd in different perspectives on complicated issues and listen actively," she explained. This approach, she believes, leads to richer, more thoughtful outcomes.
With her career grounded in governance and spanning both corporate and academic worlds, Newton-King exemplifies a commitment to principled leadership. Her ability to manage complex issues—be it a cultural rejuvenation at Stellenbosch University or guiding large corporations through shifting global landscapes—stems from her focus on inclusion, values, and a readiness to adapt.
As the conversation concluded, Newton-King's reflections served as a reminder of the enduring importance of thoughtful, value-driven leadership. "We need to use this moment to make systemic change," she emphasised, a sentiment that resonates beyond Stellenbosch and into the broader challenges facing both South Africa and the global community.
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