| Mon 1 Mar 2010, 16:30 | | HVL - Highveld - Alexander Scott MACDonald appointed as director and chief |
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HVL
HVL
HVL - Highveld - Alexander Scott MACDonald appointed as director and chief
executive officer and Mohammed Bhabha, Babalwa Ngonyama, Peter Surgey and
Timur Yanbukhtin appointed as non-executive directors
Highveld Steel and Vanadium Corporation Limited
Registration No. 1960/001900/06
(Incorporated in the Republic of South Africa)
("Highveld" or "the Corporation")
Share code: HVL
ISIN code: ZAE000003422
ALEXANDER SCOTT MACDONALD APPOINTED AS DIRECTOR AND CHIEF EXECUTIVE OFFICER
AND MOHAMMED BHABHA, BABALWA NGONYAMA, PETER SURGEY AND TIMUR YANBUKHTIN
APPOINTED AS NON-EXECUTIVE DIRECTORS
Highveld announces that Alexander Scott MacDonald is appointed as director and
Chief Executive Officer of the Corporation with effect from 1 March 2010.
Scott brings a wealth of experience to the Corporation having worked in the
steel industry his whole career. He is a Chartered Engineer and Fellow of the
Institute of Materials Minerals and Mining. He has a Post Graduate Diploma in
Management Studies and in April 2009 was invited to become a Companion of the
Chartered Management Institute in recognition of his distinguished management
career and outstanding contribution to the manufacturing industry.
Scott has the strong support of Evraz - Highveld`s major shareholder, and sees
one of his major aims in representing all shareholders and creating value for
all stakeholders of the Corporation.
Today, the steel industry operates in a global market and in order to be
successful, Scott`s vision for Highveld is to create an environment that
fosters the involvement of all employees to their maximum potential and to
develop the business to create outstanding value for the customer. The
objectives to attain this vision will be creating excellence by developing the
customer base, growth opportunities, world class manufacturing, supply chain
management and continuous improvement.
Bheki Shongwe, Chairman of the Board, wishes Scott all the best for his new
responsibilities and knows that Scott will strengthen the management team and
bring best international management practices to enhance value to all the
stakeholders of Highveld.
Highveld further announces the appointment of Peter Surgey, Babalwa Ngonyama,
Mohammed Bhabha and Timur Yanbukhtin as non-executive directors with effect
from 1 March 2010.
Mr Mohammed Bhabha is an admitted attorney practicing as non-executive
associate partner at Yammin, Hammond and Partners as from 2004. He sits on
the Board of the South African Forestry Company and has been appointed as
Advisor to the Development Bank of South Africa. Mr Bhabha was a member of
parliament and the Chairperson of the Select Committee on Local Government and
Public Administration in the National Council of Provinces as from 1996 to
2001. During the period 2001 to 2004 he was a member of Cabinet of Mpumalanga
Government - Local Government, Traffic Control and Safety and a member of the
Provincial Executive. As advisor to the Development Bank of South Africa and
other institutions, Mr Bhabha has been instrumental in the implementation of
various community-based projects and more specifically to work towards self
sustaining communities.
Ms Babalwa Ngonyama is currently the Chief Financial Officer of Safika
Holdings (Proprietary) Limited. She acts on the boards of Freeworld Coatings,
Sasol Inzalo Public Limited and of the University of Stellenbosch Business
School. A chartered accountant by profession, she also completed the Women in
Leadership Programme at Harvard University in 2008, obtained her MBA from Bond
University in 2002 and a Higher Diploma in Banking Law at RAU University in
2003. Since 2003 Ms Babalwa has been an audit partner in Deloitte`s Financial
Institutions Services Team (FIST) and the transformation champion. She was
the founding chairman of the African Women Chartered Accountants and a member
of the Education and Academic Review Committees of the South African Institute
of Chartered Accountants. As an expert in her field of accounting and
finance, she has received various awards recognising her as a top business
woman. Ms Ngonyama`s dedication and success with the transformation of the
business community is evident in the tangible difference she makes with every
initiative and project she initiates.
Mr Peter Surgey, an admitted attorney, started his 25 year career in the
Barlow Group of Companies during 1983 where he was employed initially as legal
adviser and Group Investor Relations, and thereafter as divisional human
resources executive. As from 1990 to date Mr Surgey was appointed as Managing
Director, Chief Executive Officer and executive director of various companies
in the Barlow Groups such as Plascon (Proprietary) Limited, Barloworld
Coatings and Barloworld Limited. During 2009 he was appointed as director of
Nampak Limited. From his impressive resume it is clear that Mr Surgey has a
wealth of business acumen including an acute insight into human capital and
finance.
Mr Timur Yanbukhtin is currently the Vice President, Business Development,
International Business of the Evraz Group and sits on the Boards of Stratcor
Inc (USA), Evraz Palini e Bertoli (Italy) and Cryscade Inc, Carben Semicon
Inc. Prior to joining Evraz, Mr Yanbukhtin was a director for business
development for Yandex (Moscow) a leading Russian internet company. He was
also vice-president, corporate finance of Alfa-bank (Moscow) and an associate
of Salomon Brothers. With his sound experience and exposure of international
business development and corporate finance, Mr Yanbukhtin will add depth and
value to the Board of Highveld. Mr Yanbukhtin holds degrees in economics from
Yale University and Moscow State University.
Pavel Tatyanin, Senior Vice President and Head of Evraz International
Operations states: "the changes made to the Board structure of Highveld
clearly indicates Evraz`s commitment to good corporate governance by
increasing independent non-executive representation on the Board. Evraz is
confident that the new Board of Highveld will be more dynamic in addressing
key issues such as business growth and development, best corporate practices
as highlighted in the new King III report and the new Companies Act, BEE
implementation and social responsibility as well as environmental compliance".
eMalahleni
1 March 2010
Sponsor:
J.P. Morgan Equities Limited
Date: 01/03/2010 16:30:04 Produced by the JSE SENS Department.
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