LON - Lonmin Plc - Appointment of Ian Farmer as Chief Executive Officer
LON
LOLMI
LON - Lonmin Plc - Appointment of Ian Farmer as Chief Executive Officer
Lonmin Plc
(Incorporated in England and Wales)
(Registered in the Republic of South Africa
under registration number 1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin")
Appointment of Ian Farmer as Chief Executive Officer
The Board of Lonmin Plc ("Lonmin" or the "Company") today announces that it has
appointed Ian Farmer as Chief Executive Officer, effective immediately. Brad
Mills has stepped down as Chief Executive Officer by mutual consent.
Lonmin Chairman, Sir John Craven, said: "I would like to take this opportunity
to extend the Board`s sincere thanks to Brad for his significant contribution in
developing the Company over the past four years. He will leave the Company in a
strong position for the future with good growth prospects.
"We are pleased that Ian has become our new Chief Executive Officer. He brings
with him many years of experience of the platinum industry, a detailed knowledge
of Lonmin and significant experience within South Africa.
"Xstrata is due to clarify its intentions later this week. However the Board has
an ongoing duty to manage Lonmin in the best interests of shareholders. We have
decided the time is right to appoint a new Chief Executive Officer and we
believe Ian is the right person to lead the Group. As one of his immediate
priorities, Ian will lead a review of the Group`s operations focused on
improving performance and maximising value for Lonmin shareholders from our
unique and highly attractive long-term assets. Lonmin remains on track to
achieve its previous guidance of platinum sales for 2008."
Notes to Editors
Ian Farmer, 46, was appointed as a director of Lonmin in 2001 since when he has
served as Chief Strategic Officer with responsibilities for the Company`s
business development. A chartered accountant, he joined Lonmin in 1986 and
after a few years transferred to a group company in Zambia. Since then, he has
also served as Finance Director of Lonmin Platinum in South Africa between 1995
and 2001. Ian has both British and South African nationality.
Enquiries
Lonmin: +44 (0) 207 201 6060
Alex Shorland-Ball
Cardew Group: +44 (0) 207 930 0777
Anthony Cardew +44 (0) 7770 720 389
Date: 29/09/2008 08:00:11 Produced by the JSE SENS Department.
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