– UK, London – Lonmin Plc (LSE:LMI) today announces the appointment of Kennedy G. Bungane as a non-executive director of the Company, with effect from 1 March 2016.
Mr Bungane (41) is CEO of Pembani Group Proprietary Limited, which recently merged with Shanduka, Lonmin’s Black Economic Empowerment partner. Mr Bungane was nominated to the Board pursuant to a contractual arrangement with Shanduka.
Mr Bungane has a BCom in Corporate Finance & Investment Finance, an MBA in Advanced Corporate Finance from the University of Pretoria and he completed an Advanced Management Program at the Harvard Business School. Prior to Pembani, Mr Bungane was CEO of Barclays Africa Limited and was Chairman of both the UK incorporated Barclays Africa Limited board and the Barclays Africa Regional Management Executive Committee. Mr Bungane was also CEO of the Corporate and Investment Bank at Standard Bank of South Africa and a member of the Standard Bank Group Executive Committee.
In addition to his position at Pembani, Mr Bungane is also a non-executive director of Kangra Coal (Pty) Limited.
Brian Beamish, Chairman of Lonmin said “I am pleased to welcome Kennedy to our Board. He brings with him significant corporate experience and knowledge, particularly in a South African context. Kennedy will, I have no doubt, be a much valued contributor to the Lonmin Board.”
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