African Rainbow Minerals (ARM) CEO Michael Schmidt will step down from his position on May 1 after just more than a decade at the helm.
However, he will stay on as the executive of growth & strategic development in the chair’s office.
After a comprehensive headhunting process, the board has appointed ARM’s COO Velile Phillip Tobias as CEO, subject to approval by the shareholders at the next AGM.
Before his COO role, Tobias was the COO of business development, corporate strategy & capital projects of Harmony Gold and held various executive positions at Anglo American Platinum and Gold Fields.
Schmidt joined ARM as executive of platinum operations in July 2007 after 13 years with Lonmin. He was appointed ARM CEO-designate and an executive director from September 2011. He held the position of CEO from March 2012.
ARM chair Patrice Motsepe said: “Schmidt provided outstanding leadership as the CEO of ARM and we are grateful for his many years of dedicated service.
“We are also pleased to welcome Tobias as the new CEO and we are confident that he will contribute to the success and global competitiveness of ARM,” he said.
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