| Thu 5 Feb 2004, 9:39 | | Lonmin Appoints A New Chief Executive |
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Lonmin Plc - Lonmin Appoints A New Chief Executive
Lonmin Plc
("Lonmin")
(Incorporated in England)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
ISIN code: GB0031192486
Share code: LON
Issuer code: LOLMI
5 February 2004
LONMIN APPOINTS A NEW CHIEF EXECUTIVE
The Board of Lonmin Plc announces that Mr Bradford A Mills, who is currently the
President and Chief Executive of the Base Metals Division of BHPBilliton and a
member of that company"s Executive Committee, will be appointed Chief Executive
of Lonmin Plc. The appointment will take effect not later than 1 May 2004 and
he will be appointed a Director at that time. A further announcement will be
made in due course.
Commenting on the appointment, Lonmin"s Chairman Sir John Craven said:
"This appointment marks a new chapter in the affairs of the Company. The
experience and knowledge that Brad Mills will bring to the Company"s affairs
will accelerate the strategic review that the Board announced in mid-2003. One
of the priorities of our new Chief Executive will be to conduct a full review of
our corporate strategy. It may well be that he and the Board will conclude that
our pure platinum plan is the best way forward for the foreseeable future.
However, while no plans exist for any diversification at this stage, we cannot
ignore the fact that, through the cycle, the market ascribes a higher value to
mining activities that are diversified both in terms of sector within the
industry and geography. It may be that the best way forward to protect and
enhance shareholder value - and the future dividend stream - will be by some
measure of diversification."
The Board of Lonmin Plc further announces that Mr Edward Haslam, who has served
as the Company"s Chief Executive for the last three years, has confirmed his
intention to step down on reaching retirement age in April 2004. The Board
thanks Ed Haslam for the excellent service he has given to Lonmin during his 23
year career.
ENDS
Investor enquiries:
Lonmin Plc
Sir John Craven, Chairman + 44 (0)20 7201 6000
John Robinson, Finance Director
CardewChancery
Anthony Cardew + 44 (0)20 7930 0777
Olivia Gallimore
Notes to Editors
Brad Mills is a US citizen, with academic qualifications in both geology and
economics from Stanford University. He is 49 years old and has more than 25
years" experience in the natural resources industry, having worked in a wide
variety of capacities including strategy and corporate transformation, external
affairs and communications, operational management (including health, safety and
environmental issues), information systems, ore body development and worldwide
exploration. He is currently the President and Chief Executive of the Base
Metals Division of BHPBilliton, and a member of that company"s Executive
Committee. The business he heads is the world"s leading base metals mining
company, and includes the Pering zinc-lead mine in the North-West province of
south Africa, close to the site of our own operations. Prior to assuming his
current role, Brad was the Chief Strategic Officer of BHP, with specific
responsibilities for oversight of its merger with Billiton, including the
subsequent integration of the two companies, which gave him further deep insight
into mining in South Africa. Prior to joining BHP he was an officer of two
successful North American public companies, Magma Copper Company and Echo Bay
Mines.
Date: 05/02/2004 09:01:05 AM Produced by the JSE SENS Department
