AECI Limited Update on Retirement of AECI Group CEO

 
TIDM87FZ 
 
AECI LIMITED 
 
Incorporated in the Republic of South Africa 
 
(Registration number: 1924/002590/06) 
 
Share code: AFE ISIN: ZAE000000220 
 
Hybrid code: AFEP ISIN: ZAE000000238 
 
Bond company code: AECI 
 
LEI: 3789008641F1D3D90E85 
 
(AECI or the Company) 
 
Update on Retirement of AECI Group CEO and Appointment of Acting Group CEO 
 
Shareholders and noteholders are referred to the announcement released on SENS 
on 27 July 2022, wherein it was advised that Group Chief Executive Officer 
("CEO") Mark Anthony Dytor will formally retire with effect from 31 July 2023. 
 
Shareholders and noteholders are advised that Mark has decided to accelerate 
his retirement which will take effect from 31 January 2023 to pursue other 
interests. 
 
Chairman of the Board, Dr Khotso Mokhele commented "The Board would like to 
thank Mark for his quality leadership and diligent service to the Group over 
the last 39 years, in senior roles across the organization. Notably, Mark 
excelled at raising our health and safety performance and displayed excellent 
leadership guiding the organisation through the Covid pandemic. Fostering an 
innovation culture, he has placed the group on path to a greener future. The 
Board wishes Mark everything of the best in his future endeavors." 
 
Furthermore, as announced on SENS on 27 July 2022, the AECI Board of Directors 
(the Board) has initiated an extensive search process to identify a permanent 
Group CEO. The search process is being led by the Chairman of the Board, Dr 
Khotso Mokhele and supported by a Search Committee compromising both local and 
international directors. The appointment of a suitable successor is at a very 
advanced stage of conclusion. 
 
In the interim, the Board has appointed Mr Sam Coetzer, a current Independent 
Non-Executive Director of AECI, as acting Group CEO with effect from 1 February 
2023 until the Board has completed its CEO appointment process. 
 
Dr Khotso Mokhele further commented, "We are extremely confident that Sam, with 
his vast local and international knowledge particularly in the mining industry, 
will provide the AECI Group with great leadership until the new Group CEO has 
been appointed. Sam is a global mining executive with over 30 years of 
international experience, where he has operated in South Africa, Canada, the 
USA, South America, Australia, Tanzania and Fiji.  Over and above his executive 
and non-executive roles, Sam has held numerous leadership positions at other 
international companies (including Kinross Gold, Xstrata and Placer Dome/ 
Barrick). We could not have asked for a better individual to steer the helm 
until the CEO appointment process is complete. 
 
On behalf of the Board, I would like to thank Sam, for accepting the interim 
role." 
 
The Board will assess if any changes are required to be made to any of the 
committees as a result of Mark's retirement. 
 
C Singh 
 
Group Company Secretary 
 
Woodmead, Sandton 
 
26 January 2023 
 
Equity Sponsor and Debt Sponsor 
 
Rand Merchant Bank, a division of FirstRand Bank Limited 
 
 
 
END

(END) Dow Jones Newswires

January 26, 2023 10:16 ET (15:16 GMT)

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