Palabora Mining Company Limited - Changes to Direc
PAM
PAM
Palabora Mining Company Limited - Changes to Directorate
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registered number 1956/002134/06)
JSE code: PAM & ISIN: ZAE000005245
("the Company")
CHANGES TO DIRECTORATE
In compliance with section 3.59 of the Listings Requirements of the JSE,
Palabora hereby announces the following changes to its Board of Directors:
With effect from 30 June 2006, the resignation of Mr. Steven M. Din as an
Executive Director and Chief Financial Officer and his replacement by Mr.
Charles A. Asubonten. Mr. Din will be taking on responsibilities as Senior Vice
President Finance for Rio Tinto Iron and Titanium based in London.
Mr. Asubonten, formerly a finance executive at DTE Energy in Detroit, USA, joins
the Company with more than 15 years of increasing accounting and financial
leadership experience from Fortune 500 companies including Ford Motor Company
and the Dow Chemical Company; preceded by big 4 public accounting/auditing
experience in the USA.
He earned an MBA in finance and corporate strategy from the University of
Michigan and a BBA in accounting from North Carolina Central University. He is a
Certified Public Accountant and a Chartered Financial Analyst charterholder.
Mr. Asubonten is a member of several professional organizations including the
Financial Executives International, CFA Institute, and the American Institute of
Certified Public Accountants. Involved in community and civic activities, he has
served on several boards including serving as the Audit Committee Chair and the
Assistant Treasurer of the executive committee of the Detroit Urban League.
He has been recognized by the Detroit Regional Chamber of Commerce for his
outstanding leadership and business acumen. Mr Asubonten will effectively be
joining the company on 1 August 2006.
Phalaborwa
12 June 2006
Sponsor:
Barnard Jacob Mellet Corporate Finance (Pty) Limited
Date: 12/06/2006 12:37:03 PM Produced by the JSE SENS Department
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