Ramaphosa exits Lonmin, Mondi boardsComment on this story
Johannesburg - Cyril Ramaphosa is stepping down as a non-executive director at Lonmin and as joint chairman of international of Mondi .
Ramaphosa was elected deputy president of the ruling African National Congress in December and said at the time he would be reviewing his various business interests to prevent conflicts with his new political role.
He is to step down from his position as joint chairman of international packaging and paper group Mondi in May.
The group said on Wednesday that following his election as deputy president of South Africa’s ruling African National Congress in December 2012‚ Ramaphosa had reviewed his business commitments and had now advised Mondi that he wished to resign from his positions as joint chairman and as a non-executive director at the Annual General Meetings of Mondi Limited and Mondi plc on 3 May 2013.
“Anne Quinn‚ senior independent director‚ supported by the DLC nominations committee‚ will immediately start the process of seeking a successor to Cyril‚” Mondi said.
David Williams‚ joint chairman‚ 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.”
Ramaphosa has also 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 Chairman‚ 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.” - I-Net Bridge and Reuters