Kumba Iron Ore announces leadership changes
26 July, 2016
Kumba Iron Ore Limited (“Kumba”) announces the appointment of Themba Mkhwanazi as Chief Executive Officer (“CEO”) with effect from 1 September 2016, following Norman Mbazima’s decision to step down after four years to focus on his role as Deputy Chairman of Anglo American South Africa, with effect from 31 August 2016. Norman Mbazima will remain a member of Anglo American’s Group Management Committee and will play a key role in the processes to restructure and divest Anglo American plc’s non-core assets in South Africa, including its interest in Kumba.
Kumba Iron Ore Limited (“Kumba”) announces the appointment of Themba Mkhwanazi as Chief Executive Officer (“CEO”) with effect from 1 September 2016, following Norman Mbazima’s decision to step down after four years to focus on his role as Deputy Chairman of Anglo American South Africa, with effect from 31 August 2016. Norman Mbazima will remain a member of Anglo American’s Group Management Committee and will play a key role in the processes to restructure and divest Anglo American plc’s non-core assets in South Africa, including its interest in Kumba.
Themba has been CEO of Anglo American’s Coal South Africa business since May 2014. Prior to this, he was Rio Tinto’s Regional General Manager for the Americas and COO of Richards Bay Minerals.
Kumba’s chairman, Fani Titi said: “I would like to thank Norman for his impeccable leadership over the last four years. His leadership of Kumba coincided with tumultuous times for the mining sector and a steep decline in the iron ore price. Norman responded swiftly to these challenges, never shying away from the tough decisions needed to ensure the Company’s sustainability. Throughout his tenure, Norman displayed the sort of temperament, technical insight and integrity which attracted the support of staff and stakeholders even as he led the Company through major changes. I wish him every success as he focuses on the wider imperatives of Anglo American in South Africa. I welcome Themba to his new role as CEO of Kumba. Sishen and Kolomela are world class assets, and I believe Themba’s proven technical, sales and management experience will add great value and will help secure the long-term future of these high quality iron ore mines. The Board remains committed to the strategy of continuing to deliver a robust, sustainable long term business based on the revised mine plans, cost base restructuring and operational efficiencies that have defined the last 2 years.”
Norman Mbazima said: “I have been privileged to lead Kumba through what has been a tough period for iron ore and for South African mining. Together with the Kumba team, we have transformed the business to put it on a firmer footing, making the difficult but necessary decisions to ensure the business’ profitability and long term health. I wish Themba well as he takes up the role as CEO and look forward to continuing to work closely with him as I consider the optimal divestment path for Anglo American’s non-core interests in South Africa.”
Themba Mkhwanazi commented: “I am excited by the prospect of leading one of South Africa’s great success stories. Kumba has a rich mineral endowment and a skilled and dedicated workforce enabling us to produce high quality lump and fine iron ore products to our steel customers around the world. My energies will be focused on maintaining Kumba’s strong track record in safe production, mutually beneficial relationships and further increasing productivity to ensure the sustainability of the business for the benefit of all our stakeholders