Ill heath forces Lonmin CEO to step down

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Ian Farmer leaves mining company after 26 years.

Lonmin chief executive Ian Farmer has resigned from the mining group due to ill health.

Chief financial officer Simon Scott will take over Farmer’s responsibilities temporarily until a new chief executive is found to take over.

Farmer has spent four years leading the company, which this year has been rocked with controversy following the deaths of 34 of its miners in South Africa, but had been with the company for 26 years in total. He will also give up his role as a director of the board.

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In August, prior to officially stepping down, Farmer took a side step from his role after a serious illness left him unable to continue in the role.

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."

A search has been launched to find a replacement for Farmer, although now acting chief executive Scott will not be putting himself forward for the role. When a new chief executive is found he will return to his position as chief financial officer.

 

 

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