The board of Iscor Limited has announced the composition of the board of
directors for its mining operations which will be housed in a new company to
be called Kumba Resources Limited.
The announcement forms part of the unbundling process currently underway at
Iscor that will result in the formation of two entities: one for steel - the
existing Iscor Limited - and one for mining - Kumba Resources - both of
which will be listed on the JSE Securities Exchange.
The new Kumba board will consist of fifteen directors - five executive
directors and ten non-executive directors. One position has yet to be filled
and a further announcement will be made in due course.
As previously announced, Hans Smith, currently the executive chairman of
Iscor Limited, will become non-executive chairman of Kumba Resources and Con
Fauconnier, Iscor's executive director for mining operations, will assume
the role of chief executive of the new company.
The new executive directors for Kumba are Mike Kilbride (business
operations), Charles Meintjes (corporate services), Richard Wadley (strategy
and business development) and Dirk van Staden (finance).
Existing Iscor non-executive directors who will become non-executive
directors of the new company are Tom de Beer, Colin Fenton, Jurie Geldenhuys
and Len Konar.
Other non-executive directors who are to be appointed and who will assume
their roles after the unbundling are Dawn Marole, Allen Morgan, Sipho Nkosi
and Nick Segal.
Iscor Limited chairman, Hans Smith said that he was delighted with the new
appointments as they combine the talents and skills of a number of Iscor
senior mining executives with the experience of respected South African
Con Fauconnier, chief executive designate for Kumba Resources, said the
formation of the new board establishes the foundation for the strategic
guidance of the new company towards solid future performances.
"My team and I are looking forward to working under the direction of the new
Contact: MP Kalam
Tel.: 012 307 4042
Fax.: 012 307 3149
Kumba Resources Limited - Board of Directors
Con Fauconnier (54) - Chief Executive Officer
Pr. Eng. Int., BSc (Eng. Mining), BSc. Hons. (Eng.), MSc (Eng.), MBA
(Oregon), D. Eng. Joined Iscor in 1995 as General Manager, Business
Development. Appointed Deputy Managing Director, Iscor Mining in 1997.
Executive Director of Mining at Iscor since February 1999.
Mike Kilbride (49) - General Manager, Business Operations
BSc. (Hons) Mining Engineering (ARSM), MDP (UNISA). Joined Iscor in 1978 as
Mining Engineer. Appointed Mine Manager, Grootegeluk Coal Mine in 1991 and
thereafter General Manager, Base Metals in 1997. Appointed General Manager,
Iron Ore in January 2000.
Charles Meintjes (38) - General Manager, Corporate Services
B Com., B. Compt. (Hons.) CA (SA). Joined Iscor as Group Manager,
Information Management Programmes in 1999. Appointed General Manager,
Continuous Improvement, Iscor Steel in 1999. Appointed General Manager,
Strategy and Corporate Information Management in January 2000.
Dirk van Staden (53) - General Manager, Finance
B. Iuris., LLB., AMP. (Insead). Appointed General Manager, Corporate
Treasury for Iscor Limited in 1997.
Richard Wadley (54) - General Manager, Strategy and Business Development
BSc. Hons., (Geology), MSc. (Min. Eng.), AMP (Harvard). Joined Iscor in 1998
as General Manager, Marketing Strategy. Appointed General Manager, Corporate
Business Development in 1999.
NON- EXECUTIVE DIRECTORS
Hans Smith (60) - Chairman
BSc. (Eng. Metallurgy), BSc. (Eng. Mining), Dip. MRA (UNISA), SMP.
(Harvard). Joined Iscor in 1993 as Managing Director, Iscor Limited.
Executive Chairman of Iscor Limited since 1995.
Tom de Beer (66)
BCom, CA (SA). Director of Iscor Limited since 1992, Chairman of the Audit
Committee and of the Human Resources and Remuneration Committee. Director
of companies including Genbel South Africa.
Colin Fenton (66)
Bsc (Eng) Mining. Director of Iscor Limited since 1988. Director of
Jurie Geldenhuys (58)
BSc (Eng. Elec.), BSc (Eng. Mining), MBA Stanford. Director of Iscor Limited
since 1995 and member of the Human Resources and Remuneration Committee.
Formerly Managing Director of Avgold Limited and Executive Director of
Anglovaal Mining Limited.
Len Konar (47)
BCom, CA (SA), MAS, DCom. Director of Iscor Limited since 1995 and member of
the Audit Committee. Patron of the Institute of Internal Auditors (SA),
member of the King Committee on Corporate Governance, the Securities
Regulation Panel, the Corporate Governance Forum and Institute of Directors.
Director of companies.
Dawn Marole (41)
BCom., DTE, MBA. Deputy Chief Executive Officer of Fabvest Investment
Holdings and Founder Executive Director of Thebe Health Care. Director of
Tsogo Sun Investment Ltd, Genfoods Ltd, African Renaissance Holdings (Pty)
Ltd and Anchor Yeast Zimbabwe (Pty) Ltd.
Allen Morgan (54)
BSc. Eng. (Elec.), MDP (UNISA), EDP (Wits). Fellow of the South African
Institute of Electrical Engineers. Fellow of the South African Academy of
Engineering. Honorary Professor of the Moscow State Academy of Instrument
Engineering and Computer Sciences. Director of Murray & Roberts Holdings
Sipho Nkosi (47)
BCom. Hons (Econ.), MBA., Dip (Mktng Mngt). Chief Executive Officer,
Eyesizwe Coal (Pty) Ltd. Previously employed at Ford Motor Company, Anglo
American Coal Corporation, Southern Life Association and Ingwe Coal
Corporation. Former Managing Director of Asea Brown Boveri (ABB) (SA) and
Country Manager and Chief Executive Officer of ABB Alstom Power (SA).
Nick Segal (60)
Bsc (Eng.), PhD (Phys Chem), DPhil (Economics). Director at the Graduate
School of Business at the University of Cape Town. Previously the Public
Affairs Director at Anglovaal Ltd and Director of Strategy and Corporate
Affairs at JCI Ltd. From 1996 to 1997 he was President of the South African
Issued by the Corporate Affairs Department Tel: (012) 307-4042 Fax: (012)
307-3149 web site: http://www.iscor.com