28th Dec 2012 07:00
REGULATORY RELEASE
28 December 2012
Lonmin Plc - Directorate Change
Lonmin Plc announces that Ian Farmer, who is being treated for a serious illness, has informed the Board of his request to step down as Chief Executive Officer (CEO) and as a Director of Lonmin with immediate effect. With great regret the Board has agreed.
Roger Phillimore, Chairman of Lonmin, said "We will greatly miss Ian's ability, commitment and drive which he has devoted to the Company over a career spanning more than 26 years. He has been CEO for the last four years and the consistent improvement in Lonmin's operating performance over that period owes much to his leadership. We wish him well with his ongoing treatment and will stay in close touch with him as a valued colleague and friend."
The Board has appointed an executive search agent to pursue the selection and engagement of Ian's successor as CEO. In the meantime, Simon Scott will continue in his role as Acting CEO with the full support of the Lonmin Board. Simon has requested that he should not be considered as a candidate for the role of CEO. Following the appointment of a new CEO, Simon will dedicate his time fully to his role as Chief Financial Officer.
- ENDS -
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +44 20 7201 6007 +44 7825 877394 |
Media:
Cardew Group
Anthony Cardew | +44 20 7930 0777 +44 1189 732200 |
James Clark | +44 7885 776664 |
Sue Vey | +27 72 644 9777 |
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
Related Shares:
Lonmin