Wrap Text
Retirement of CEO and internal appointment of CEO designate
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
("Sibanye-Stillwater" or the "Group" or the "Company")
Website: www.sibanyestillwater.com
CHANGE IN BOARD OF DIRECTORS
Retirement of CEO and internal appointment of CEO designate
Johannesburg, 13 February 2025: In compliance with paragraph 3.59 of the Listing
Requirements of the JSE, stakeholders of Sibanye-Stillwater (Tickers JSE: SSW and NYSE:
SBSW) are hereby notified that Neal Froneman will retire as Chief Executive Officer
(CEO) and executive director of the Group, effective 30 September 2025. Richard Stewart,
currently Chief Regional Officer: Southern Africa region (CRO SA region), will succeed
Neal as CEO and executive director, and will be appointed as CEO designate and executive
director from 1 March 2025, while continuing his CRO: SA region responsibilities.
Richard's appointment follows an independent, best practice, succession process overseen
by the Board, during which a number of external and internal candidates with appropriate
industry credentials and experience were critically assessed for the role.
Richard's appointment is testament to the quality and depth of leadership at Sibanye-
Stillwater and the well-considered and effective Group succession planning processes.
Since joining the Group in 2014, Richard has been a key member of its senior leadership
team, responsible for jointly charting and implementing the Group's strategy. Richard
has held various Group executive leadership positions including Chief Regional Officer:
Southern Africa from 31 May 2022, Chief Operating Officer from 1 December 2020 and
prior to that, Executive Vice President: Business Development, during which time he
contributed significantly to the successful value-accretive strategic growth into the
PGM sector. For more about Richard, refer to https://www.sibanyestillwater.com/about-
us/leadership/richard-stewart/.
Vincent Maphai, Chair of the Sibanye-Stillwater Board commented: "Neal has led the
Sibanye-Stillwater Group since 2013, guiding the initial turnaround of the three mature,
challenging gold mines that the Group inherited from Gold Fields. From the significantly
more profitable and stable base that was established, he subsequently drove the
strategic growth and diversification of the Group into what it is today - a multinational
mining and metals processing company with a diverse portfolio of operations, projects
and investments across five continents. "
"I, along with many of my fellow Board members, have travelled this incredible journey
with Neal and I know that my admiration for Neal's strategic leadership and moral
candour during his tenure and gratitude for his unwavering commitment is shared by all.
I am sure that these sentiments are echoed throughout Sibanye-Stillwater, where Neal's
inspirational and values-based leadership in the role he defined as "Chief Enabling
Officer" will be sorely missed.
Neal leaves a business which is in good health, financially and operationally, with a
clear and consistent strategy. We welcome Richard's appointment and are confident that
this internal succession will ensure continuity and a seamless leadership transition,
allowing Richard and the Sibanye-Stillwater leadership team to take the Group to new
heights and continued creation of shared value for all stakeholders."
"Neal leaves behind a proud legacy at Sibanye-Stillwater and in the South African mining
industry, which is testament to his strategic vision and inspirational leadership. As
Neal expressed to me, while he has the same enthusiasm for what he does, and has lost
none of his drive, he now wishes to spend more of his time with his family and loved
ones and on his many interests. Neal's legacy extends far beyond his role at Sibanye-
Stillwater and he is highly regarded as a thought leader globally. His prominent roles
as Chairman of the World Gold Council and co-leading the Crime and Corruption workstream
for business in South Africa, amongst other high-level engagements, suggest that he
will contribute to the advancement of the global minerals industry in various ways in
future."
"On behalf of the Board and the over 70,000 Sibanye-Stillwater colleagues, we wish Neal
a long and happy retirement."
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted, Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the "safe harbour" provisions
of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements
of historical fact included in this presentation may be forward-looking statements. Forward-looking
statements may be identified by the use of words such as "will", "would", "expect", "forecast", "potential",
"may", "could" "believe", "aim", "anticipate", "target", "estimate" and words of similar meaning.
These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited's
(Sibanye-Stillwater or the Group) future financial position, business strategies, business prospects,
industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, and
plans and objectives for future operations, project finance and the completion or successful integration
of acquisitions, are necessarily estimates reflecting the best judgement of Sibanye-Stillwater's senior
management. Readers are cautioned not to place undue reliance on such statements. Forward-looking statements
involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult
to predict and generally beyond the control of Sibanye-Stillwater that could cause its actual results and
outcomes to be materially different from historical results or from any future results expressed or implied
by such forward-looking statements. As a consequence, these forward-looking statements should be considered
in light of various important factors, including those set forth in Sibanye-Stillwater's 2023 Integrated
Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 26 April
2024 (SEC File no. 333-234096). These forward-looking statements speak only as of the date of this
presentation. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any
forward-looking statement (except to the extent legally required).
WEBSITES
References in this announcement to information on websites (and/or social media sites) are included as an
aid to their location and such information is not incorporated in, and does not form part of, this
announcement.
Date: 13-02-2025 02:33:00
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