Jubilee Metals Group plc (LON:JLP) has announced that Dr Reuel Khoza has agreed to join the Jubilee Board. Dr Khoza is an eminent business leader having held the position as chairman of several blue-chip firms including Nedbank Group Ltd, one of Africa’s largest banking corporations, Public Investment Corporation Ltd, the largest asset management firm in Africa, Eskom Holdings Ltd, the largest power generator in South Africa, and is also a director of the Johannesburg Stock Exchange. Dr Khoza’s current positions include President of the Institute of Directors Southern Africa and Chairman of Discovery Bank. He is also a visiting professor at several South African universities, lecturing in Corporate Governance, Business Leadership, Business Strategy and Marketing Communications. Dr Khoza’s appointment to the Jubilee Board is subject to regulatory approval and he is expected to join the board during October 2024.
The Company also wishes to announce that Neal Reynolds has informed the Board of his resignation as Chief Financial Officer (CFO) to pursue a new opportunity. Neal will leave Jubilee Metals after publication of the Company’s Annual Results, which are targeted for release during the week of the 30 September 2024.
Neal formed part of the leadership team tasked with the successful implementation of a decentralised executive management structure, to ensure dedicated focused leadership by the South African and Zambian appointed executive team. The decentralised executive teams are now each led by a dedicated Managing Director and CFO per country and commodity area. The implemented executive structure ensures clear accountability and leadership across each of the Company’s operations, namely copper and chrome & PGM. This new decentralised structure has put in place significant finance capabilities across the Group. Riaan Smit, currently Chief Financial Officer of the chrome & PGM division in South Africa, has been appointed interim Group CFO while a replacement is found.
Leon Coetzer says: “It is a great honour to have such an esteemed business leader in Dr Reuel Khoza to accept the invitation to join the Jubilee Board. Dr Khoza brings a wealth of experience and knowledge that will strongly compliment the Jubilee Board, especially at a time when we look to expand our operating footprint in Africa.
I would also like to extend my gratitude to Neal and thank him for his contribution during Jubilee’s restructuring into a decentralised leadership model and wish him every success with his new venture.”
