The Board of Sibanye-Stillwater advises that the current Board Chairman, Sello Moloko has tendered his resignation, effective 30 September 2019, in order to focus on his other responsibilities and the ongoing development of the Thesele Group, which he founded in 2005.
Moloko has served as Chairman of the Group since it was established in February 2013 and has overseen the growth and development of the Group, from a South African gold producer, into a leading international precious metals company and the Board would like to thank him for his sage counsel and guidance during this transformative period in the Company’s history.
Mr Moloko commented: “It has been my privilege to lead and participate in the evolution of Sibanye-Stillwater, from its humble beginnings six years ago, into the unique, globally diversified precious metals company of today. Having overcome some significant challenges in the last 18 months, and with the successful conclusion of the shareholder vote to approve the Lonmin acquisition yesterday, I feel confident that the Group is poised to deliver on its vision of creating superior value for all of our stakeholders and believe that this is an opportune time to hand the Chairman’s baton on. I wish to thank my Board colleagues and the management of Sibanye-Stillwater, for the support and camaraderie and wish them all the best for the next stage in the development of the Company,” comments Moloko.
The Board is also pleased to announce the appointment of Dr Vincent Maphai, who will succeed Moloko as Chairman and Non-executive Independent director, and will be joining the Board as Chairman designate effective from 1 June 2019.
Dr Maphai’s appointment follows an extensive search process and allows for a suitable handover period in order to ensure continuity. The Board would like to congratulate and welcome Dr Maphai and looks forward to his valuable contribution to the ongoing development of Sibanye-Stillwater.
Brief resume of Dr Maphai
Dr Maphai has a distinguished career in academia, the private sector and public service.
Until 30 June 2018, when he retired from full-time work after 48 years, he was a visiting-Professor at Williams College in Massachusetts. Prior to that served as Corporate Affairs and Transformation Director at the South African Breweries Limited for 10 years after a five year period as Chairman of BHP Billiton Ltd, South Africa.
Dr Maphai has also been involved in various public policy projects and roles including the National Planning Commission, the Presidential Review Commission (Chair), and the South African Broadcasting Corporation (SABC). He served on the Councils of the University of KwaZulu-Natal (Chair), and the University of South Africa. In an academic career spanning two decades, he has studied and taught at various universities both locally and internationally.