Farmer to step down as Lonmin CEO

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Johannesburg‚ Dec 28 (I-Net Bridge) - Ian Farmer‚ who is being treated for a serious illness‚ has informed the board of his request to step down as Chief Executive Officer (CEO) and as a Director of platinum miner Lonmin Plc (LON)Lonmin with immediate effect‚ it was announced on Friday.

“With great regret the Board has agreed‚” Lonmin said.

Lonmin Chairman Roger Phillimore said “We will greatly miss Ian's ability‚ commitment and drive which he has devoted to the Company over a career spanning more than 26 years.

“He has been CEO for the last four years and the consistent improvement in Lonmin's operating performance over that period owes much to his leadership. We wish him well with his ongoing treatment and will stay in close touch with him as a valued colleague and friend.”

The Board has appointed an executive search agent to pursue the selection and engagement of Farmer's successor as CEO.

In the meantime‚ Simon Scott will continue in his role as Acting CEO with the full support of the Lonmin Board.

Scott has requested that he should not be considered as a candidate for the role of CEO. Following the appointment of a new CEO‚ he will dedicate his time fully to his role as Chief Financial Officer.

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