Wescoal Group’s CEO and Executive Director, has resigned, for personal reasons, and will leave the Company by the end of June 2021.
Reginald Demana has led the development of the current Wescoal strategy, anchored on the three pillars of Stability, Sustainability and Scalability, which resulted in Wescoal achieving various strategic objectives such as annualised production of 8 Mtpa, restructuring of debt funding facilities and the commencement of development of the Moabsvelden and Arnot growth projects, which are core to the future of Wescoal.
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He has also successfully led the Company through the COVID-19 pandemic and to date, the Company has been able to effectively operate continuously without any COVID-19 related loss of life and/or major operational closure at any of its sites.
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The Board will commence with the process to appoint a new Group CEO and shareholders will be advised once such an appointment has been made. Reginald has committed to assist the Board in an orderly handover of duties.
Jubilant Speckman had been appointed as Acting Group CFO with effect from 1 September 2020, the Board is pleased to announce Jubilant’s permanent appointment as Group CFO and Executive Director with effect from 1 February 2021.
Jubilant is a Chartered Accountant and member of SAICA. Following the completion of her article training at PricewaterhouseCoopers, she has held various positions at mining entities such as BHP Billiton, Wesizwe Platinum Limited and Merafe Resources Limited, before joining Wescoal in October 2018.
Since her appointment as Acting Group CFO, she has successfully overseen Wescoal’s positive interim results, published on 4 December 2020. The Board is satisfied that she will add significant value to the Group in the positions of Group CFO and Executive Director, through her wealth of experience and knowledge.