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KUMBA IRON ORE LIMITED - Changes to the board of directors

Release Date: 25/07/2017 08:05
Code(s): KIO     PDF:  
Wrap Text
Changes to the board of directors

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”)

CHANGES TO THE BOARD OF DIRECTORS

Shareholders are advised of the following changes to the composition of Kumba’s board of directors
(“Board”):

Fani Titi intends to step down from the board with effect from 30 September 2017, and that Dr Mandla
Gantsho has been appointed as an independent director and chairman designate. Dr Gantsho will join
the board on 1 August 2017 and will succeed Mr Titi as chairman on 1 October 2017, after a handover
period of two months.

Dr Gantsho is the CEO and founder of Africa Rising Capital, an investment and advisory business. He
is a non-executive director and chairman of Sasol Limited and Impala Platinum Holdings Limited. He is
also a member of the divisional board of Rand Merchant Bank (A division of FirstRand Bank Limited).
A chartered accountant by profession, Dr Gantsho has spent some fifteen years in leadership positions
within development finance institutions, both in South Africa and internationally, and brings a wealth of
experience of multi-sectoral development throughout the African continent. In addition, he has extensive
board leadership experience on a number of listed and unlisted corporations.

Fani Titi, Chairman of Kumba, said: “Chairing the Kumba board has been an enormous privilege during
what has been a period of considerable price volatility and positive change for the business. I will hand
over to Mandla Gantsho at a time of strength for Kumba, following the announcement of its half year
results and the resumption of dividend payments to our shareholders. I am pleased to have played a
part in contributing to a great South African business that will continue to make a significant contribution
to our economy and to the communities in which we operate. I look forward to welcoming Mandla
Gantsho to the board and I am confident that his extensive commercial and leadership experience will
serve Kumba well as it continues to create value for all its stakeholders.

“I am grateful to the board and shareholders of Kumba for their support over the last five years. Mandla
Gantsho will work with a leadership team ably led by our CEO Themba Mkhwanazi to build on the
significant progress already made by the business.”

Mandla Gantsho said: “I am honoured and humbled to join the board of Kumba. The mining sector
continues to present enormous potential and opportunity to attract investment in South Africa and
elsewhere on the continent. More importantly, as a driver of economic growth, it is pivotal in creating
sustainable employment and downstream opportunities for business and entrepreneurial development.
As a member of the Kumba board, I am committed towards building on the indelible legacy created by
Fani Titi. I am confident that with my board colleagues and a committed and professional management
team, Kumba will continue its positive trajectory”.

Themba Mkhwanazi, CEO of Kumba, added: “On behalf of the entire board, we wish Fani Titi well and
thank him for his steady leadership of the board over the last five years. Personally, I thank him for his
guidance upon my stepping into the role of CEO of Kumba almost one year ago. I am pleased to
welcome Mandla Gantsho to the Kumba board and as the Kumba team, we look forward to his wealth
of experience and leadership as we continue to build this magnificent business”.
Further biographical details

Mandla Gantsho, age 55, has held a number of directorships including at the South African Reserve
Bank, Development Bank of Southern Africa, Afrocentric Investment Corporation and CIC Energy South
Africa. He holds several degrees, including a Ph.D. and an M.Phil. from the University of Pretoria, an
M.Sc. from George Washington University in the USA, a B.Com. (Hons) and a CTA from the University
of Cape Town, and a B.Com, from Walter Sisulu University (former University of Transkei). He is a
qualified Chartered Accountant (SA).

Centurion
25 July 2017

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


For further information, please contact:

Media                                                       Investors
Yvonne Mfolo                                                Anne Dunn
yvonne.mfolo2@angloamerican.com                             anne.dunn@vodamail.co.za
Tel: +27 12 683 7067                                        Mobile: +27 82 448 2684
Mobile: +27 83 469 4566




 

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