London, England — 02 January 2013 – Lonmin plc “’ one of the world’s largest primary producers of platinum group products “’ has revealed that its board has appointed an executive search agent to pursue the selection and engagement of a new CEO for the company.
Revealing this in a statement issued here, Lonmin said that in the meantime, Simon Scott would continue in his role as acting CEO with the full support of the Lonmin Board. Scott has requested that he should not be considered as a candidate for the role of CEO. Following the appointment of a new CEO, he would dedicate his time fully to his role as chief financial officer.
These developments follow the announcement on December 28 that Ian Farmer, who is being treated for a serious illness, has informed the board of his request to step down as CEO and a director of Lonmin with immediate effect. With great regret the board has agreed.
Lonmin chairman Roger Phillimore said “Ian has been CEO for the last four years and the consistent improvement in Lonmin’s operating performance over that period owes much to his leadership.”
An executive search agent is already in the process of pursuing the selection and engagement of Farmer’s successor.
Source: Lonmin plc. For more information ratio, click here.