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KUMBA NON-EXECUTIVE CHAIRMAN DAWN MAROLE STEPS DOWN
KUMBA RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
(`Kumba`)
KUMBA RESOURCES NEWS RELEASE
Telephone : + 27 (12) 307 4843 P.O. Box 9229
Telefax : + 27 (12) 307 4080 PRETORIA 0001
15 April 2005
KUMBA NON-EXECUTIVE CHAIRMAN DAWN MAROLE STEPS DOWN
At its annual general meeting today, diversified South African-based metals and
mining company Kumba Resources Limited (Kumba) announced the decision of the non
executive chairman of the Kumba Board, Dawn Marole, to step down as chairman and
as director.
The resignation follows Ms Marole`s consultation with the Kumba Board and is a
joint decision based on her intention to focus on her business commitments.
`I believe that I have vindicated the confidence shown by the Board in
appointing me as chairman in 2002. It has been a privilege to play a role in the
development of the group during its initial years since listing in 2001,` said
Ms Marole.
Kumba chief executive Dr Con Fauconnier paid tribute to Ms Marole`s contribution
to the Board: `Dawn has played a key role in guiding Kumba`s strategic
development. Her leadership and counsel to the Board is appreciated, as is her
commitment to the principles of sound corporate governance. We wish her well in
her future endeavours.`
The Board has considered a replacement for Ms Marole and, in view of the
empowerment process currently underway with respect to Kumba`s ownership
structure, has decided to appoint Mr Allen Morgan, an independent non-executive
director, as chairman. This appointment is effective immediately and will be
reviewed following the conclusion of the empowerment process.
Mr Morgan has served on the Kumba Board as a non-executive director since June
2001 and is a member of the Board`s safety, health and environment committee. He
has extensive engineering and business experience and currently serves as a non-
executive director on the Eskom board. From 1994 to 2001 he served as chief
executive of Eskom and steered its transformation process to completion.
`I look forward to serving as chairman and to providing direction for Kumba
through its challenging empowerment process, while assisting it to meet its
strategic growth aspirations and obligations to stakeholders,` said Mr Morgan.
`We welcome the appointment of Allen Morgan as chairman and the continuation of
the valuable inputs he has made to date, based as they are on astute business
insight and sound judgement,` said Dr Fauconnier. `His considerable experience
in dealing with empowerment-related matters should prove particularly valuable
during the coming months.`
RESULTS OF ANNUAL GENERAL MEETING
Shareholders are advised that at the annual general meeting of Kumba Resources
Limited held at 14:00 on Friday, 15 April 2005, all the resolutions proposed
were approved with the required majorities. The special resolution passed at the
meeting will be lodged with the Registrar of Companies for registration.
Ends
Note:
Kumba Resources Limited, 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
Enquiries:
Trevor Arran
General Manager: Corporate Affairs & Investor Relations
Tel: +27 (0) 12 307 3292
Mobile: +27 (0) 83 609 1444
Dawn Marole
Mobile: +27 (0) 83 443 3922
Date: 15/04/2005 04:41:14 PM
Produced by the JSE SENS Department
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