Sibanye-Stillwater outgoing chairperson Sello Moloko
Photo by: Creamer Media
Sello Moloko will step down as chairperson of JSE- and NYSE-listed Sibanye-Stillwater, effective September 30, and will be succeeded by nonexecutive director Dr Vincent Maphai, whose appointment is effective June 1.
A statement by the miner on Wednesday said Moloko wants to focus on his other responsibilities and the ongoing development of Thesele Group, a company he founded in 2005.
Moloko has served as chairperson of Sibanye since its establishment in February 2013.
"It has been my privilege to lead and participate in the evolution of Sibanye, 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 [chairperson’s] baton on,” he said.
Maphai previously served as BHP Billiton South Africa chairperson and South African Breweries corporate affairs and transformation director.
Mining Weekly Online on Tuesday reported that Lonmin shareholders had backed the platinum producer’s takeover by Sibanye. Sibanye’s shareholders had also approved the deal earlier on the same day.
The companies first announced the merger in December 2017.