 JOHANNESBURG (miningweekly.com) – Disaffected JSE-listed gold-mining company Simmer & Jack Mines (Simmers) said on Friday that its CEO Gordon Miller and chairperson Nigel Brunette would step down from Simmers, but would not relinquish their positions as CEO and chairperson of First Uranium, the Simmers' associate company.
Simmers gold MD Deon van der Mescht would replace Miller in an acting capacity and Brunette's replacement would be announced at the first Simmers board meeting of 2010.
Both Miller and Brunette have been under intense pressure to resign from disgruntled empowerment partner Vulisango.
Directors John Berry and Adrian Meyer, also under pressure from Vulisango, are included on Simmers' new list of interim board nominees, made up of Metmar's Colin Brayshaw, former Anglo Platinum CEO Ralph Havenstein, Theba chairperson Vusi Khanyile, Ernst & Young's Gugu Msibi and Gordon Institute of Business Science University of Pretoria's Dr Nick Segal.
Simmers said that Xelexwa - the company through which Vulisango holds 22% of Simmers - would be asked to nominate two further nonexecutive directors so that the new full board of directors to lead the company could be elected at the general meeting.
Brunette reasoned that the need for a dual Simmers-First Uranium CEO and chairperson had fallen away as a result of First Uranium completing its development programme, which required the skills of the Simmers project management team.
Brunette added that the change of First Uranium's corporate status - from subsidiary to a 40%-owned Simmers' associate - had provided an additional impetus for the restructuring.
Vulisango CEO Valence Watson described the stepping down of Miller and Brunette as a step in the right direction. "We welcome the move," Watson said.
The directors proposed on the Vulisango list would not alter, however, nor would Vulisango's resolve that there should be no further delays in placing the correct leadership in place.
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