| Thu 29 Jan 2009, 9:00 | | LON - Lonmin Plc - Retirement of Sir John Craven as Chairman |
|
LON
LOLMI
LON - Lonmin Plc - Retirement of Sir John Craven as Chairman
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")
Retirement of Sir John Craven as Chairman
29 January 2009
The Board of Lonmin Plc ("Lonmin" or the "Company") announces that Sir John
Craven will today retire as a Non-executive Director and Chairman of the Board.
Sir John`s retirement will take effect at the end of the Company`s Annual
General Meeting, being held today. At that time, Roger Phillimore, Deputy
Chairman, will assume the role of Chairman on an interim basis. A process to
identify a permanent successor to Sir John has already begun.
Discussions on this matter, including related succession issues, initially took
place last year, but were disrupted by the pre-conditional offer for the Company
by Xstrata plc, and the matter was deferred. Sir John`s decision today to
decline to stand for re-election has been taken as a consequence of personal and
family health reasons.
Roger Phillimore said: "The Board is extremely grateful to Sir John for his
contribution to the development of Lonmin as Chairman of the Board since 1997.
During that time, the Company has been transformed from a diverse conglomerate
into the third largest Platinum producer in the world. This strategic
transformation would not have happened without Sir John`s energy and
determination. We wish Sir John and his family all the best for the future."
Sir John Craven said: "I am honoured to have served as Chairman of the Lonmin
Board for nearly twelve years, but it gives me no pleasure to bow out at a time
when the Company faces such challenging times, as a result of the global
economic downturn. I do so, however, with every confidence that the steps the
Company is taking are the right ones. When the economic storm clouds pass, the
market will again appreciate the inherent values of Lonmin, a company with a
high quality asset base in an attractive industry."
Notes to Editors
Sir John Craven (67) was appointed as independent Non-executive Director and
Chairman of the Board in 1997. He was previously the group Chief Executive and
Chairman of Morgan Grenfell Group plc and a member of the Board of Managing
Directors of Deutsche Bank AG. Sir John was also Chairman of Fleming Family and
Partners Limited, an independent, privately-owned investment house. He has held
a number of Non-executive Directorships, including Reuters Holdings plc,
Rothmans International plc, Ducati Group and The Royal Marsden NHS Foundation
Trust, and is Non-executive Chairman of Patagonia Gold Plc. Sir John holds both
British and Canadian nationality and was knighted for his services to banking
and the City in 1996.
Roger Phillimore (59) was appointed an independent Non-executive Director in
1997. Roger is Chairman of the Nomination and Remuneration Committees, and a
member of the Audit and Risk Committee. He was formerly joint managing director
of Minorco, and is currently a Non-executive Director of Harry Winston Diamond
Corporation. Roger holds both South African and British nationality.
Enquiries:
Investors / Analysts:
Rob Gurner Tel: +44 (0) 207 201 6050
Head of Investor Relations
Media:
Anthony Cardew / Rupert Pittman Tel: +44 (0) 207 930 0777
Cardew Group
Date: 29/01/2009 09:00:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
