Lonmin Says Chairman Roger Phillimore Plans to Retire in 2014

Lonmin Plc, the world’s third-biggest platinum producer, said Chairman Roger Phillimore plans to retire next year.

He will remain in office until a successor has been appointed, the Johannesburg-based company said in a statement today. Phillimore was appointed a director of the company in 1997 and became chairman in 2009.

The company has started the process of finding someone to succeed him, it said.

Lonmin returned to profit in the first half, and plans to produce more than 700,000 ounces of platinum metals in concentrate this year, it said on May 13. Producers in South Africa, which has the world’s biggest reserves of the metal, are negotiating pay increases with workers and are seeking to avoid a repeat of violent strikes that led to the deaths of miners last year.

Before it's here, it's on the Bloomberg Terminal.