New Implats CEO will be under cosh from the get-go, say analysts
The world's second-largest platinum producer is choosing a new CEO and after a tough year marred by safety issues that resulted in a drop in production
Impala Platinum, the world's second-largest platinum producer, is choosing a new CEO and after a tough year marred by safety issues that resulted in a drop in production, analysts say it is vital that the next CEO delivers on Impala's strategies. It has been speculated that Jean Nel, former CEO of Sibanye's platinum division, who resigned last month after just seven months at Sibanye, could be the right candidate for the top job at Impala. Hurbey Geldenhuys, a platinum analyst at Vunani Securities, said Nel would be a good candidate. Nel is commended for cutting costs swiftly at Aquarius Platinum during a time when commodity prices were dwindling - stopping unsustainable operations. Nel had also integrated the business into Sibanye's portfolio, and helped in its efforts to diversify its minerals portfolio. An analyst who did not want to be named said although it was still early days in the integration of Aquarius into Sibanye's portfolio, Mimosa, which is jointly owned by Implats an...
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