{"id":7158,"date":"2012-01-18T20:53:57","date_gmt":"2012-01-18T18:53:57","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-1-implats-says-ceo-david-brown-to-resign\/"},"modified":"2012-01-18T20:53:57","modified_gmt":"2012-01-18T18:53:57","slug":"update-1-implats-says-ceo-david-brown-to-resign","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-implats-says-ceo-david-brown-to-resign\/","title":{"rendered":"UPDATE 1-Implats says CEO David Brown to resign"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Share price falls on news<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Share had been 2nd worst performer in 2011 on Top 40<\/p>\n<p><span><\/span><\/p>\n<p>* Platinum miners struggling with costs<\/p>\n<p> (Adds background)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, JAN 18 &#8211; The chief executive of Impala<br \/>\nPlatinum, the world&#8217;s second largest producer of the<br \/>\nprecious metal, is stepping down against the backdrop of a<br \/>\npoorly performing share price and tough talks with Zimbabwe<br \/>\nregarding its operations there.<\/p>\n<p><span><\/span><\/p>\n<p>Implats said in a brief statement on Wednesday that David<br \/>\nBrown would depart as CEO with effect from June 30 in order to<br \/>\n&#8220;pursue his own interests&#8221;. Its share price extended losses on<br \/>\nthe day and was 3 percent lower at 1251 GMT.<\/p>\n<p><span><\/span><\/p>\n<p>The company also said the board had identified a successor<br \/>\nand was in the process of finalising the appointment.<\/p>\n<p><span><\/span><\/p>\n<p>Implats was the second-worst performing share among South<br \/>\nAfrica&#8217;s benchmark Top 40 index in 2011, shedding 28<br \/>\npercent over the course of the year as the platinum price<br \/>\nstruggled.<\/p>\n<p><span><\/span><\/p>\n<p>It was a bad year in general for platinum producers.<br \/>\nImplats&#8217; bigger rival Anglo American Platinum lost 23<br \/>\npercent in 2011 and Lonmin slid around 40 percent.<\/p>\n<p><span><\/span><\/p>\n<p>All platinum producers in South Africa, where about 80<br \/>\npercent of known global reserves are found, are grappling with<br \/>\nrising costs and safety issues.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Share price falls on news * Share had been 2nd worst performer in 2011 on Top 40 * Platinum miners struggling with costs (Adds background) JOHANNESBURG, JAN 18 &#8211; The chief executive of Impala Platinum, the world&#8217;s second largest producer of the precious metal, is stepping down against the backdrop of a poorly performing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7158","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7158"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7158\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}