Diversified miner African Rainbow Minerals (ARM) has appointed CFO Tsundzukani Mhlanga as FD, following the resignation of outgoing FD Abigail Mukhuba who will step down from the board, effective September 30.
ARM executive chairperson Dr Patrice Motsepe expresses his gratitude to Mukhuba for the “very good work” she did as FD of the company.
“We wish her everything of the best in her new job at Sanlam.”
In addition, he also welcomes Mhlanga as the incoming FD. “She previously worked in the mining industry and her skills and expertise will stand her in good stead in her new role at ARM.”
ARM’s board undertook a process to identify a permanent successor for Mukhuba, with Mhlanga being appointed with effect from October 1, until her appointment is approved by the shareholders at the next annual general meeting (AGM) of the company.
In addition, ARM’s board has appointed Pitsi Mnisi as nonexecutive director of the company with effect from and including September 30, until her appointment is approved by the shareholders at the next AGM of the company.
Mnisi succeeds Dr Manana Bakane-Tuoane, who steps down with effect from September 29.
“We also welcome Mnisi to the board as a new nonexecutive director,” says Motsepe, adding that she has over 15 years’ experience in the corporate finance and mining industries. “Finally, I am grateful to Dr Bakane-Tuoane for her contributions to the ARM board over many years and wish her everything of the best.”
Further, ARM has also changed the composition of its investment committee, with the appointment of Tom Boardman, an independent nonexecutive director of ARM, to the role of a member of the investment committee.