Lazarus Zim resigns from Kumba

Lazarus Zim has resigned as chairperson and non-executive director of Kumba Iron Ore with effect from December 14 2010, the company said in a statement on Wednesday.

“Zim, who has been the non-executive chairperson since the Company’s listing in November 2006, has notified the board that he is pursuing a business opportunity, the culmination of which will lead to a conflict of interest with his position as non-executive chairperson of the company.”

Kumba’s board and management acknowledged and expressed appreciation for Zim’s able leadership during his tenure as chairperson and wished him well for the future. Allen John Morgan, the senior lead independent director has been appointed a the interim chairperson, effective December 15 2010, the company said. — I-Net Bridge

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