We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedPeople Management

Lonmin CFO not interested in CEO position

Mining firm may look externally for Ian Farmer’s successor

Article comments

Mining company Lonmin's CFO and current interim CEO Simon Scott has said that he is not interested in the company's top job on a permanent basis.

The world's third largest Platinum producer appointed Scott as interim CEO in August as the serving CEO at the time – Ian Farmer – stepped aside to undergo treatment for an undisclosed illness. That same month police killed 34 striking miners at a protest in Marikana, South Africa.

Farmer tendered his resignation last week, which was accepted with immediate effect. Roger Phillimore, chairman of Lonmin, said, the company would "greatly miss" Farmer's ability following a 26-year career at the company.

"We wish him well with his on-going treatment and will stay in close touch with him as a valued colleague and friend," he added.

Following Farmer's departure, Scott has requested that he should not be considered among the candidates for the post. Market speculation suggests that the company's board and Phillimore may now seek an external hire for the top job.

Overseen by interim CEO Scott, Lonmin shareholders recently backed a £510 million rights issue aimed at stabilising the company's balance sheet in wake of production losses stemming from the South African strike.

A Lonmin spokesperson said that following the appointment of a new CEO, Scott will revert back to the CFO role.



Lonmin CFO not interested in CEO position
People Management

Finance skills evolve as the recovery takes hold

Finance skills evolve as the recovery takes hold

Finance teams need to learn soft skills as corporate priorities evolvemore ..

Unemployment falls to five-year low

Headline rate of unemployment at 6.9% as wages rise above inflation ratemore ..

Microsaic Systems appoints new FD

Andrew Darby to succeed Malcolm Batemanmore ..

United Utilities CFO joins board of Orange Polska

Appointment of Russ Houlden at telco’s board effective immediatelymore ..

Do you have what it takes to become a non-executive?

The benefits of board service for CFOsmore ..

How level is the playing field for women in business?

Vince Cable moots women-only shortlists just ahead of international women’s daymore ..

Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..


* *