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KUMBA IRON ORE LIMITED - Kumbas Chief Financial Officer to step down

Release Date: 14/02/2017 07:06
Code(s): KIO     PDF:  
Wrap Text
Kumba’s Chief Financial Officer to step down

Kumba Iron Ore Limited
A member of the Anglo American plc group
(Incorporated in the Republic of South Africa)
(Registration number 2005/015852/06)
JSE Share code: KIO
ISIN: ZAE000085346
("Kumba" or the “Company”)

Kumba’s Chief Financial Officer to step down

Kumba announces that Frikkie Kotzee, Chief Financial Officer and executive director of the Company, has
decided to step down from his role after five years.

Mr Kotzee engaged with the Kumba Board in December 2016 to indicate his preference to step down during
the course of 2017, once a number of major strategic and financial deliverables had been completed. In
order to ensure a smooth transition, Frikkie has agreed to remain with the Company until Kumba’s Annual
General Meeting on 11 May 2017.

Fani Titi, Chairman of Kumba said: “The Board thanks Frikkie for his invaluable contribution and leadership
over the past five years. We have valued his integrity and unwavering commitment to the highest levels of
governance and excellence. We wish Frikkie the best in his future endeavours.”

Themba Mkhwanazi, Chief Executive, added: “Frikkie has played a crucial leadership role in ensuring
Kumba’s financial sustainability during trying times. He will be missed as a valued member of the executive
team.”

Frikkie Kotzee commented: “I would like to thank Kumba for what has been an excellent opportunity to serve
as CFO. It has been very rewarding professionally and I have had the privilege of working with an exceptional
board and management team. After five years and with a strengthened balance sheet and a major
restructuring of the business successfully executed, I believe the time is right for me to step down.”

The Kumba Board will now begin a search process of internal and external candidates to identify a
successor.

This announcement is made in accordance with paragraph 3.59 of the JSE Listings Requirements.


Centurion
14 February 2017


For further information, please contact:

Media                                                  Investor Relations:
Yvonne Mfolo                                           Nerina Bodasing
Executive Head: Corporate Affairs                      Head: Investor Relations
Tele: +27 83 469 4566                                  Tele: +27 82 940 7505


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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