Fred Phaswana has succeeded Barry Davison as chairperson of Anglo Platinum, the company said on Tuesday.
Phaswana is a member of the board of Anglo American, chairperson of both Anglo American South Africa and transport utility Transnet, chairperson of Ethos Private Equity and a non-executive director of Naspers.
Sixty-one year old Phaswana has had extensive experience in the resources industry, having worked for BP in a number of countries and capacities in both Africa and Europe since the 1960s. Until June 2002 he was BP regional president for Africa, a position he assumed in 1999. Before that he was director of BP Oil (Benelux) and associate president of BP in The Netherlands (1992) and chairperson and chief executive of BP Southern Africa (1995).
Phaswana is widely involved in public life in Southern Africa, chairing the South African Institute of International Affairs and is a trustee of the South African Institute of Advancement.
Davison will retire at the year end after 33 years with Anglo American group companies, including 18 years with the group’s platinum interests where he served at various times as CEO, executive chairperson and most recently as non-executive chairperson. He retired as an executive director of Anglo at the end of last year.
Commenting on the appointment, Davison said Phaswana brings broad experience of large-scale natural resources business, especially in Africa. He is widely respected and the board will be strengthened by his judgement and perspectives.
“My years with the Anglo Group and in particular Anglo Platinum have been challenging and most rewarding. The markets for platinum group metals have grown enormously and Anglo Platinum has more than doubled its production, retaining its position as the world leader,” he said.
Phaswana said: “This position comes at an exciting time when Anglo’s performance is strong and the company has an impressive pipeline of new projects, including platinum. I am pleased to be part of this South African growth story and the enormous value platinum will add to the group and to South
Africa.
Phaswana sees Anglo Platinum as a well-positioned leader in the industry with exciting growth prospects and a key component of Anglo American’s global growth. He believes platinum group metals are unique products that solve environmental clean air challenges, feed a growing jewellery market, the size of which can be directly influenced by the industry and are a defining feature in Anglo American’s portfolio of assets. – I-Net Bridge