Stewart to succeed Sibanye-Stillwater’s Froneman when he retires in September
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Sibanye-Stillwater incoming CEO Richard Stewart
Sibanye-Stillwater CEO Neal Froneman
JSE- and NYSE-listed mining and metals processing group Sibanye-Stillwater has announced that Neal Froneman will retire as CEO and executive director, effective September 30.
Chief regional officer for Southern Africa Richard Stewart has been appointed CEO designate from March 1, and will ultimately succeed Froneman as CEO and executive director upon his retirement.
The group says Stewart’s appointment followed an independent best practice succession process that was overseen by the board, with the board having considered a number of external and internal candidates for the role.
He has held various group executive leadership positions including chief regional officer for Southern Africa from May 31, 2022; COO from December 1, 2020; and executive VP for business development.
Sibanye-Stillwater chairperson Vincent Maphai says Froneman has led the group since 2013 and guided the initial turnaround of the three mature, challenging gold mines that the group inherited when the Kloof, Driefontein and Beatrix mines were unbundled from Gold Fields.
“From the significantly more profitable and stable base that was established, he subsequently drove the strategic growth and diversification of the group into what it is today – a multinational mining and metals processing company with a diverse portfolio of operations, projects and investments across five continents.”
Maphai adds that Stewart’s appointment instils confidence within the board that this internal succession will ensure continuity and a seamless leadership transition, while taking the group to new heights and continuing to create shared value for all stakeholders.
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