Pan African Resources shuns the spotlight, but tough comments from CEO Cobus Loots about its difficulties with a small group disrupting the construction of its R1.7bn Elikhulu tailings project is an indication of the frustration the company is experiencing. It’s never a good sign when a CEO decides it’s time to go — especially when he’s leaving just 18 months into the job. Wim de Klerk replaced Paul O’Flaherty as ArcelorMittal SA’s CEO in September 2016. Although he came from Exxaro, where he was financial director, De Klerk wasn’t new to ArcelorMittal SA. He joined the company first in 1996, when it was Iscor and was appointed GM for strategy in 1999. Taking over from O’Flaherty in 2016 was a brave move. The company was struggling to deal with low steel prices, high freight and electricity tariffs and cheap Chinese imports. It was also doing battle with the competition authorities and the Department of Trade and Industry. He managed to achieve some progress with the government, whi...
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