Pan African's CEO steps down

Pan African Resources announced Wednesday the resignation of Chief Executive Officer Jan Nelson.

Pan African Resources announced Wednesday the resignation of Chief Executive Officer Jan Nelson.

He steps down from the company and its board on March 1st but will continue to provide counsel.

He will remain a Director of Auroch Minerals, the holding company of the Manica gold project.

Chairman, Keith Spencer, said: "We appreciate Jan's significant contribution to the transformation and growth of Pan African and particularly in respect of the successful acquisition of Evander Gold Mines.

"The board wishes him all the best with his future endeavours. Mr Nelson has agreed that his counsel will remain available to the company for a period following his departure."

The board has appointed Ron Holding and Cobus Loots as joint Interim Chief Executives until a successor is found.

Holding is currently the Chief Operating Officer of Pan African while Loots has been a director of the company since 2009 and was the group's former Chief Financial Officer.

Nelson said: "I thank the board for its good wishes and am proud to

leave the company following the successful achievement of such a significant milestone. I believe Evander will contribute significantly to Pan African's medium to long term growth and my best wishes accompany all the staff and other stakeholders in Pan African."

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The world’s fund managers are getting very bullish – be careful out there
Stockmarkets

The world’s fund managers are getting very bullish – be careful out there

The latest survey of fund managers shows them to be extremely bullish on all the same things. And that, says John Stepek, means the market is in dange…
21 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021