South African businessman and ANC Vice President Cyril Ramaphosa has disclosed plans to resign from his positions at the South African miner Lonmin and international packaging and paper group Mondi Plc.
According to Fin24, Ramaphosa informed the Board of Lonmin that on 31 January 2013 he will not be standing for re-election as a non-executive Director at the Company’s forthcoming Annual Meeting.
Roger Phillimore, Lonmin’s Chairperson, commenting on the development‚ said: “The wisdom of his contributions has been invaluable to the Company‚ and we will miss his measured but forceful participation in our affairs.”
“On behalf of our shareholders‚ I would like to convey our very best wishes to him in his new and important role,” he said.
Mondi also said on Wednesday that Ramaphosa had told the group that he planned to resign from his positions as joint chairperson and as a non-executive director at the Annual General Meetings of Mondi Limited and Mondi plc on 3 May 2013.
David Williams, the joint chairperson of Mondi thanked Ramaphosa for his significant contribution to the Group.
“He has helped guide Mondi through its initial years of listing and played an important role in providing constructive counsel particularly on issues specific to the South African business environment,” Williams said.
The international packaging and paper group has kick-started the search for a successor to Cyril Ramaphosa.
Cyril Ramaphosa’s election in December as South Africa’s ruling party’s Vice President triggered suspicions surrounding his business ties and his newly elected role at ANC.
The long time activist announced earlier in the year that he would review his various business interests to prevent conflicts with his new political role.