Lonmin Plc Appoints Ben Magara as Chief Executive Officer
The Board of Lonmin Plc ("Lonmin" or the "Company") is pleased to announce the appointment of Ben Magara as its new Chief Executive Officer and as a Director with effect from 1 July 2013.
Ben Magara is currently the Executive Head of Engineering and Capital Projects at Anglo American Platinum Limited (Anglo Platinum). Before taking up his current role, Ben was the Chief Executive Officer of Anglo Coal South Africa and responsible for Anglo American's total coal business in South Africa with revenues of around US$2 billion. At Anglo Platinum, Ben's tenure in all projects has been fatality free and amongst others the Unki Platinum Mine Project ramped up to steady state one year ahead of schedule.
Ben has a 22 year distinguished career at the leading edge of the mining industry which has included a number of positions within the Anglo American Group. During his mining career he has shown an exceptional operational ability spanning mining supervision, management and leadership. Ben has also demonstrated an ability to work proactively and extensively with unions, government, and communities. He has a degree in Mining Engineering, has been a director of Anglo American South Africa since 2006, and is a non-executive director of Foskor.
Ben Magara is a Zimbabwean national, married with two children, and has been resident in South Africa for the last 19 years.
Lonmin's Chairman, Roger Phillimore said "I am delighted to be able to announce the appointment of Ben Magara to lead Lonmin. The Company is performing well and our safety record is better than it has ever been. Our renewal plan is on track and progress is being made towards the better definition and achievement of our initiatives to improve both the working and living environment of all Lonmin employees for the benefit of all stakeholders and shareholders. The Board is confident that Ben's extensive experience in working in South Africa and the mining community, his relationships and his demonstrated success in proactive relationship building with all stakeholders will drive Lonmin forward."
Commenting on his appointment, Ben Magara said: "Lonmin is a company with excellent assets. I am excited at the prospect of leading team Lonmin and contributing to making a positive difference. The success of the mining industry is vital to the future of South Africa and as the Lonmin team we will drive excellence and build value with and for all our stakeholders."
Simon Scott who has been Acting CEO since August 2012 will resume his role as Chief Financial Officer when Ben Magara joins. Roger Phillimore stated: "Simon rose magnificently to a huge challenge following Ian Farmer's illness and we are deeply grateful to him for his unswerving commitment and his effective leadership in a difficult time."
In accordance with the Listing Rules, Lonmin confirms that there are no additional matters relating that would require disclosure under LR 9.6.13 R (1) to (6). Mr Magara has no beneficial interests in Lonmin ordinary shares of $1 each.
Lonmin Plc (the "Company") today announces the appointment of Ms Phuti Mahanyele as a non-executive director of the Company, with immediate effect.
Ms Mahanyele (42) is Chief Executive Officer (CEO) of Shanduka Group, Lonmin's Black Economic Empowerment partner, and was nominated to the Board under a contractual arrangement.
Phuti has a BA in Economics from Rutgers University, USA and an MBA from De Montfort University, Leicester, UK. She completed the Kennedy School of Government Executive Education programme ‘Global Leadership and Public Policy for the 21st Century' at Harvard University in 2008. Her executive career includes appointment as Vice President of Fieldstone, an international firm specialising in the financing of infrastructure assets, and later she became Head of the Project Finance South Africa business unit at the Development Bank of Southern Africa. She joined Shanduka in 2004 as the Managing Director of Shanduka Energy, and became CEO in September 2010.
External recognition of Phuti's achievements include the Top in Project Finance, 2003 award by the Association of Black Securities & Investment Professionals (ABSIP). She was selected as a Global Young Leader in 2007 by the World Economic Forum and listed as one of the Top 50 women in the world to watch in 2008 by the Wall Street Journal. She was named the Most Influential Woman in Government and Business - Financial Services in 2009 and in 2011 was awarded the Vision of Excellence Award by Rutgers University.
She is a member of the boards of a number of Shanduka Group investee companies including being Deputy Chair of Pan African Resources Plc, listed on AIM and the JSE. In accordance with the Listing Rules, Lonmin confirms that there are no additional matters relating that would require disclosure under LR 9.6.13 R (1) to (6). Ms Mahanyele has no direct beneficial interests in Lonmin ordinary shares of $1 each.
Commenting on the appointment, Cyril Ramaphosa, Chairman of Shanduka Group and a former non-executive director of Lonmin said: "I am delighted that Phuti has accepted our nomination to join the Board of Lonmin ".
Roger Phillimore, Chairman of Lonmin said: "I am pleased to welcome Phuti to our Board. She brings a wealth of executive experience, knowledge and skills to our boardroom, and in particular has a deep insight into the needs of 21st century South Africa which we value greatly".
Statements issued by Lonmin through the JSE SENS service, April 2 2013
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