22nd Feb 2006 07:05
Anglo American PLC22 February 2006 News Release 22 February 2006 Senior management changes - Anglo American South Africa Lazarus Zim to pursue platinum BEE venture At the end of 2005, Anglo American plc announced the restructuring of itsoperations, focusing on a core group of mining activities. With regard toPlatinum, Anglo American also announced that it is exploring options as to howgrowth and investment can best be supported alongside an appropriate BEEtransaction. Lazarus Zim, CEO of Anglo American South Africa (AASA) hasindicated a desire to become involved in the future empowerment of the miningsector and specifically with the BEE structures being developed for AngloPlatinum. Given his extensive past experience in Africa, he also intends toestablish his own Pan African investment vehicle. When the proposals for a further Platinum empowerment transaction have beendeveloped, it is envisaged that Lazarus will play a key role in creating a broadbased Platinum empowerment consortium alongside Anglo Platinum's existing BEEpartners. In support of these intentions, AASA and Lazarus have agreed that he shouldrelinquish his executive responsibilities in the Group and his directorship ofAnglo Platinum. However, it is our joint intention that he will maintain astrong involvement with the Group. He will be Chairman of Kumba Iron Ore, amember of the AASA board and Chairman of its Transformation Committee and aboard member of AngloGold Ashanti and Mondi South Africa. In addition, Lazaruswill work closely with Anglo American to develop further business opportunitiesin other parts of Africa and he will also carry out various consulting dutiesfor the group. Anglo will continue to support him in his role as President ofthe Chamber of Mines. Philip Baum is appointed Acting CEO of AASA, as well as continuing as Chairmanof the Ferrous Metals and Industries division. Philip will work closely withLazarus and the Transformation Committee on further transformation, employmentequity, BEE procurement and support for small and medium enterprises. Tony Trahar, CEO Anglo American plc, has decided that, in view of his increasingglobal responsibilities, the time is right for him to stand down as Chairman ofAASA and we are delighted that Fred Phaswana, a non-executive director of AngloAmerican plc and Chairman of Transnet, has agreed to serve in this role and willcontinue as a member of the Transformation Committee. These changes take effect on 1 May 2006. Commenting, Tony Trahar said "Lazarus has achieved great success in a relativelyshort time with the Group. We are delighted that he will work with AngloPlatinum and AASA on transformation projects and that he will continue to have avery close association with the Group as a board member of AASA and in workingwith us on other business development activities". Lazarus Zim commented "I have really enjoyed my executive role with Anglo andhave enjoyed leading the transformation of the Group both internally andexternally. The next phase of my relationship with Anglo is very exciting and Ilook forward to becoming involved in a further platinum empowerment transactionas well as working with the Group on other business development activitiesthroughout Africa. I am truly grateful to Anglo American for affording me thisgreat opportunity. I wish Fred and Philip every success in their new roles". For further information: Anglo American - LondonInvestor Relations Media RelationsCharles Gordon Kate AindowTel: +44 207 968 8933 Tel: +44 207 968 8619 Anglo American - JohannesburgInvestor Relations Media RelationsAnne Dunn Daniel NgwepeTel: +27 11 638 4730 Tel: +27 11 638 2267 Notes to Editors: Anglo American plc is one of the world's largest mining and natural resourcegroups. With its subsidiaries, joint ventures and associates, it is a globalleader in platinum, gold and diamonds, with significant interests in coal, baseand ferrous metals, industrial minerals and paper and packaging. The group isgeographically diverse, with operations in Africa, Europe, South and NorthAmerica, Australia and Asia. (www.angloamerican.co.uk) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Anglo American