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CFO rules himself out of running for top job at Lonmin

Lonmin CFO and interim CEO Simon Scott asks not to be considered as a candidate for the role of CEO

02 Jan 2013

By Richard Crump

mining-law2

LONMIN'S FINANCE DIRECTOR has ruled himself out of the running for top job at the mining company after its chief executive quit.

Simon Scott took temporary control as acting chief executive of the platinum miner in August last year after serious illness forced Ian Farmer to stand aside.

Farmer's resignation was accepted over the Christmas holiday with immediate effect, but Scott, who took control during the worst crisis in the company's history, has requested that he should not be considered as a candidate for the role of CEO.

Scott's interim appointment coincided with police shooting dead 34 striking miners at its mine in Marikana near Johannesburg.

During his tenure as interim CEO, Scott initiated a $817m (£510m) rights issue to repair a balance sheet damaged by the cost of lost production due to the strike.

Following the appointment of a new CEO, Scott will dedicate his time fully to his role as chief financial officer.

 

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