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Exxaro Finance Director steps down

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World Coal,

Exxaro has announced that Mr WA (Wim) de Klerk will, after much consideration and deliberation, be stepping down as Finance Director of the company.

The company’s Board of Directors has, over a period of time, been considering his application to step down in order for him to make a lifestyle change and has approved such with effect from 31 August 2016 or an earlier date if so agreed with the Board.

Wim has been requested to, during this period, specifically assist the Chief Executive Officer to, inter alia, coordinate the process to identify and appoint a successor and assist with the transition process, assist in finalising some strategic decisions on equity investments and the new Black Economic Empowerment structure, as well as assist in concluding the negotiations on addendum 10 of the Medupi Coal Supply Agreement with Eskom Holdings SoC Ltd.

On joining Iscor in 1996, Wim, inter alia, managed Iscor Quarries and the Grootegeluk mine. He became a member of the executive team as Group General Manager: Strategy and Continuous Improvement in 1999. During his tenure at Kumba Resources Ltd, he was responsible for the mineral sands operations and after Exxaro listed in 2006 became Executive General Manager: Mineral Sands and Base Metals in 2008 until his appointment as Finance Director in 2009.

The Board has expressed their sincerest appreciation for his dedication and absolute commitment during his tenure and wish him and his family well for the future and their new endeavours.

Edited from press release by Harleigh Hobbs

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