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Ramaphosa dumping business interests

Jan 23 2013 13:33 I-Net Bridge,Reuters

Cyril Ramaphosa was elected as deputy president of the ANC in December 2012. (Picture: Felix Dlangamandla)

Company Data

Lonmin plc [JSE:LON]

Last traded 31.06
Change -0.11
% Change 0.00
Cumulative volume 1406945
Market cap 17.72bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Mondi plc [JSE:MNP]

Last traded 177.11
Change -1.62
% Change -0.01
Cumulative volume 357794
Market cap 65.04bn

Last Updated: 24/10/2014 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Cyril Ramaphosa is to step down from his positions at platinum producer Lonmin [JSE:LON] and international packaging and paper group Mondi plc [JSE:MNP].

Lonmin said on Wednesday that Ramaphosa was stepping down as a non-executive director at the end of the month.

Ramaphosa informed the Board of platinum mining group Lonmin Plc that he will not be standing for re-election as a non-executive Director at the Company’s forthcoming Annual Meeting on 31 January 2013.

Lonmin’s Chairperson‚ Roger Phillimore‚ thanked Ramaphosa for his commitment to Lonmin over a demanding period. "The wisdom of his contributions has been invaluable to the Company‚ and we will miss his measured but forceful participation in our affairs" he said. "On behalf of our shareholders‚ I would like to convey our very best wishes to him in his new and important role."

The Mondi group also said on Wednesday that Ramaphosa had advised the group that he wished to resign from his positions as joint chairperson and as a non-executive director at the Annual General Meetings of Mondi Limited and Mondi plc on 3 May 2013.

David Williams‚ joint chairperson‚ said: “We would like to thank Cyril for his significant contribution to the Mondi Group. He has helped guide Mondi through its initial years of listing and played an important role in providing constructive counsel particularly on issues specific to the South African business environment.”

Anne Quinn‚ senior independent director‚ supported by the DLC nominations committee‚ will immediately start the process of seeking a successor to Cyril‚” Mondi said.

Ramaphosa was elected deputy president of the ANC in December and said at the time he would be reviewing his various business interests to prevent conflicts with his new political role.

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lonmin  |  mondi  |  cyril ramaphosa  |  anc  |  mangaung 2012
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