[miningmx.com] — AFRICAN Rainbow Minerals (ARM) has chosen ARM Platinum executive Mike Schmidt to be the group’s next CEO. He will replace current CEO Andre Wilkens from March next year.
Schmidt (52) will be appointed CEO-designate from September 1, and will spend the next six months working with Wilkens in terms of a part of a handover process.
He is a mining engineer by profession and started his career with the former Anglovaal group, working at Hartebeestfontein Gold Mine from 1979 to 1994.
Schmidt then joined Lonmin Platinum where he rose through the mine management ranks, becoming a general manager and eventually vice-president in charge of Lonmin’s Limpopo operations.
He was recruited to join ARM’s platinum division in July 2007 by former Lonmin colleague Stompie Shiels. Both executives were part of an exodus of highly experienced managers from Lonmin during that period.
Wilkens will stay on at ARM after the handover as an executive director based in the office of executive chairperson Patrice Motsepe, where he will be responsible for growth and strategic development.
Wilkens told Miningmx that Schmidt had been selected after an exhaustive process looking at both internal and external candidates.
“Mike came out the best. He’s highly focused with lots of vision and, most importantly of all, he’s production-orientated with an extremely good track record of delivery. “
Asked about the lengthy handover period, Wilkens said: “ARM is all about the team, not the individual. What you will see take place is an orderly and well-planned process of change.
“We have a whole string of new projects in the pipeline to be delivered over the next five years and we need to make sure it all takes place as planned. Mike is the right guy to do that.’
Asked about his own decision to remain with the group, Wilkens replied: “I am very happy to stay on. This is my life, this is my passion. This is what I want to do.
“When we took over Avmin our market capitalisation was R5bn. It’s now R40bn. We said in 2005 we would double the company by 2010, and we have achieved that. “
Motsepe said: “I am excited to welcome Mike Schmidt as the new CEO of ARM. Mike has been with ARM for the past four years and will continue with the internal growth process that is currently under way, and will also lead the African and external growth strategy.’
