Kumba Resources Appoints Dawn Marole To Succeed Ha
Kumba Resources Appoints Dawn Marole To Succeed Hans Smith As Chairman Of The
Board
Kumba Resources Limited
Share Code: KMB ISIN: ZAE000034310
Telephone : + 27 (12) 307 4843
P.O. Box 9229
PRETORIA 0001
Telefax : + 27 (12) 307 4080
2002-11-19
KUMBA RESOURCES APPOINTS DAWN MAROLE TO SUCCEED HANS SMITH AS CHAIRMAN OF THE
BOARD
Metals and mining company Kumba Resources Limited has announced that the Kumba
Board of Directors has elected Dawn Marole as its new non-executive chairman. Ms
Marole has been a non-executive director of the Kumba Board since October 2001
and helped to guide the company to its listing on the JSE Securities Exchange on
26 November 2001. The appointment takes effect immediately.
Ms Marole takes on the position following the announcement of the retirement of
Hans Smith in July 2002, who indicated his wish to step down as non-executive
chairman and as a member of the Kumba Board, after having successfully fulfilled
his mandate.
Commenting on the appointment, Dr Con Fauconnier, Kumba`s chief executive, said:
"Dawn is a person of high integrity and has proved to be a capable and strongly
independent board member, adding tremendous value to the company`s current
status as one of the most profitable diversified mining companies in South
Africa.
"My executive and I are delighted with Dawn`s appointment and look forward to
continued guidance and counsel from the Kumba Board under her leadership."
Ms Marole draws on strong financial and management experience. She is currently
deputy chief executive of Fabvest Investment Holdings, and serves on the boards
of several other companies including Premier Foods, Tsogo Sun Holdings and New
Diamond Corporation.
Ms Marole holds an MBA attained at North Eastern University, Boston, USA, and is
former president of the Businesswomen`s Association. She also serves on the
Policy Board for Financial Services and Regulations advising the Minister of
Finance, and on the Export Advisory Board of the Department of Trade and
Industry.
"I am honoured by the confidence the Board has shown in me. When I joined the
Kumba Board on the company`s listing last year, I was excited to be part of the
development of this new mining giant. I now look forward to the challenge of
leading the Board in supporting Kumba`s aspirations to be South Africa`s
foremost new generation company and the country`s mining champion," said Ms
Marole.
The appointment is the culmination of a comprehensive selection process which
involved a sub-committee of the Kumba Board and outside independent consultants
to identify and short-list suitable candidates.
Mr Smith has been non-executive chairman from 1 July 2001 after relinquishing
his position as executive chairman of Iscor Limited. He is widely recognised as
the architect behind the restructuring of Iscor from an unwieldy parastatal to a
globally competitive mining and steel company. The restructuring followed Mr
Smith`s appointment as managing director of Iscor in 1993 and as executive
chairman of the Iscor Board in 1995.
Dr Fauconnier paid tribute to Mr Smith`s inputs, which had "transformed Iscor
into two top performing companies that deliver real value for their
shareholders". He added that Mr Smith`s guidance through the unbundling process
had been an invaluable contribution to Kumba.
ends
Note
Kumba Resources Ltd, one of the largest South African-based mining companies
listed on the JSE Securities Exchange, is a focused metals and mining company
with a diverse commodity portfolio consisting of iron ore, heavy minerals, coal,
base metals and industrial minerals. www.kumbaresources.com
Contacts:
Dr Con Fauconnier Pat Mdoda
Chief Executive General Manager Corporate Affairs
Tel: 012 - 307-4314 Tel: 012 - 307-4553
Trevor Arran
General Manager: Investor Relations
Tel: 012 - 307-3292
Date: 19/11/2002 02:32:16 PM Produced by the JSE SENS Department
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