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

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
China owns a lot more gold than it’s letting on – and here’s why
Gold

China owns a lot more gold than it’s letting on – and here’s why

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’…
21 Apr 2021
Why investment advice could be about to get a lot cheaper
Investment strategy

Why investment advice could be about to get a lot cheaper

Vanguard, the world’s second-biggest asset manager, is launching its own cut-price financial advice service. It’s something the industry badly needs, …
20 Apr 2021