South Africa-focused platinum producer Lonmin has announced that its CFO, Simon Scott (pictured), will be stepping down from the board following Lonmin's interim results in May. Scott said in a statement:
"After successfully completing last year's fundraising in an exceptionally challenging market, it is now the right time for me to pursue other interests."
Lonmin is listed on the stock exchanges in both London and Johannesburg. The company conducted a massively discounted rights issue last year to raise $407 million to repay debt and recapitalise the company.
Scott served as Acting CEO after Ian Farmer's departure, and will remain in a transitional role now as Lonmin seeks a replacement. The company is currently looking for Scott's successor.
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