CEO of Impala Platinum Holdings steps down

Impala Platinum Holdings (JSE:IMP), a leading producer of PGM and responsible for 25% of global platinum output, is losing its CEO.

David Brown will step down June 30, 2012. In a statement made on Wednesday, the company said that Brown is leaving to pursue his own interests. Brown was Chief Executive Officer and Executive Director of the Board.

Impala’s stock was down 2.47% on the Johannesburg Stock Exchange.

Impala says it is found a successor and will be making an announcement in due course.

“David joined the Implats Board of Directors in January 1999 as the Chief Financial Officer and was appointed as the CEO in 2006,” said the company in a statement.

“He was instrumental in the development of Implats’ Zimbabwean assets and was also responsible in securing the Royal Bafokeng Nation as the anchor empowerment partner for the Group, ensuring the development of this partnership to the benefit of all stakeholders.”

Impala Platinum Holdings has operations on the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe.

Image from Captains of Industry

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