Sibanye-Stillwater announces board reshuffle and new chairs

  • Stock Market News
Sibanye-Stillwater announces board reshuffle and new chairs
Credit: © Reuters.

In a move to rejuvenate its leadership, Sibanye-Stillwater Limited has announced significant changes to its board of directors, including the appointment of new committee chairs and the upcoming retirement of two members. The South African mining giant, known for its substantial role in platinum, palladium, rhodium, and gold production, as well as PGM autocatalysts recycling, is also expanding into the battery metals sector.

The board restructuring comes as six non-executive directors have exceeded the nine-year tenure limit. Harry Kenyon-Slaney has been named the new Lead Independent Director in addition to taking on the role of Chair of the Risk Committee. Jerry Vilakazi will assume leadership of the Health and Safety Committee, while Dr. Elaine Dorward King is set to chair the Social, Ethics, and Sustainability Committee. Moreover, Keith Rayner has been appointed Chair of the Investment Committee. These appointments will take effect from early next year.

The company also disclosed that directors Nkosemntu Nika and Susan van der Merwe are slated to retire at the 2024 Annual General Meeting (AGM). Chairman Vincent Maphai expressed gratitude to the retiring members for their dedication and service while welcoming the incoming chairs. He emphasized that their contributions would be instrumental in steering Sibanye-Stillwater through its next phase of growth and diversification into battery metals mining and processing.

This strategic shift in leadership aligns with Sibanye-Stillwater's vision to remain at the forefront of the mining industry by not only capitalizing on its core strengths but also by branching out into sectors critical for future technologies. The company's proactive approach to board tenure and governance reflects a broader commitment to sustainable and ethical business practices.

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