Avmin appoints new chairman and CEO

At today’s meeting of the Board of Directors of Anglovaal Mining Limited (Avmin), Mr Kennedy Maxwell announced his intention to retire as Chairman on 30 June 2002 and the Board has appointed Mr Rick Menell as his successor. Kennedy Maxwell will remain an Avmin non-executive director and will continue to Chair the Audit and Remuneration Committees of the Board. Dr Vincent Maphai has resigned as a non-executive director due to various other commitments and demands. Rick Menell will continue to work full time for Avmin with responsibility for Group strategy and stakeholder relationships.

Avmin’s Chief Operating Officer, Mr David Murray, will succeed Rick Menell as the Company’s Chief Executive Officer with effect from 1 July 2002 and will continue to report to him. Other senior management changes will be finalised and announced by 30 June 2002.

The Board of Directors thank Kennedy Maxwell, in his role as Chairman, and Dr Maphai for their expertise, guidance and commitment to the Company during their terms of office.

Julian Gwillim
General Manager, Investor Relations