Coal producer Exxaro Resources has named former Lonmin CEO Ben Magara as its new CEO.
The group said Magara's appointment is effective April 1. He will succeed acting CEO Riaan Koppeschaar, who will continue in his role as FD. It said Magara's appointment as CEO designate followed an “expedited and targeted selection process”.
Exxaro appointed Koppeschaar as acting CEO in December after placing former CEO Nombasa Tsengwa on precautionary suspension pending the outcome of an independent investigation into alleged workplace and governance issues. Tsengwa resigned in February after a court ruled that her application to have the suspension overturned had lacked urgency.
Exxaro said Magara is a qualified mining engineer with more than 35 years' experience in the industry. Magara, a former Anglo American Coal CEO, was thrust into the spotlight when he took over the reins as CEO at Lonmin in 2013 after the Marikana massacre a year earlier. Lonmin was at the time the world's largest platinum producer and was acquired by Sibanye-Stillwater.
Commenting on Magara's appointment, Exxaro chair Geoffrey Qhena said he brought a wealth of mining leadership, global board and governance experience to Exxaro, along with a reputation for impeccable integrity.
“We are confident Ben will stabilise the organisation and continue to drive forward our growth and sustainability strategy, particularly with the knowledge he brings from being chair of our investment committee. Ben's deep experience as an engineer, mine manager, corporate leader and listed company CEO will all be invaluable to Exxaro as we continue to maximise the value of our assets while accelerating our prudent transition into a diversified minerals and renewable energy solutions business,” Qhena said.
Geraldine Fraser-Moleketi, Exxaro's lead independent director and member of the nomination committee, said Magara is a seasoned mining executive who is highly regarded for his people skills and emphasis on teamwork and collaboration.
“I am delighted to say that Ben's appointment had the unanimous support of our board. As a trusted and experienced CEO, he has excellent knowledge of the company and industry and is well-prepared to lead,” she said.
TimesLIVE
Exxaro names Ben Magara as CEO designate
Image: Moeletsi Mabe
Coal producer Exxaro Resources has named former Lonmin CEO Ben Magara as its new CEO.
The group said Magara's appointment is effective April 1. He will succeed acting CEO Riaan Koppeschaar, who will continue in his role as FD. It said Magara's appointment as CEO designate followed an “expedited and targeted selection process”.
Exxaro appointed Koppeschaar as acting CEO in December after placing former CEO Nombasa Tsengwa on precautionary suspension pending the outcome of an independent investigation into alleged workplace and governance issues. Tsengwa resigned in February after a court ruled that her application to have the suspension overturned had lacked urgency.
Exxaro said Magara is a qualified mining engineer with more than 35 years' experience in the industry. Magara, a former Anglo American Coal CEO, was thrust into the spotlight when he took over the reins as CEO at Lonmin in 2013 after the Marikana massacre a year earlier. Lonmin was at the time the world's largest platinum producer and was acquired by Sibanye-Stillwater.
Commenting on Magara's appointment, Exxaro chair Geoffrey Qhena said he brought a wealth of mining leadership, global board and governance experience to Exxaro, along with a reputation for impeccable integrity.
“We are confident Ben will stabilise the organisation and continue to drive forward our growth and sustainability strategy, particularly with the knowledge he brings from being chair of our investment committee. Ben's deep experience as an engineer, mine manager, corporate leader and listed company CEO will all be invaluable to Exxaro as we continue to maximise the value of our assets while accelerating our prudent transition into a diversified minerals and renewable energy solutions business,” Qhena said.
Geraldine Fraser-Moleketi, Exxaro's lead independent director and member of the nomination committee, said Magara is a seasoned mining executive who is highly regarded for his people skills and emphasis on teamwork and collaboration.
“I am delighted to say that Ben's appointment had the unanimous support of our board. As a trusted and experienced CEO, he has excellent knowledge of the company and industry and is well-prepared to lead,” she said.
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