Media releases

Mike Prinsloo relinquishes role of CEO at DRD

Details

Published: Friday, 03 November 2000 02:00

Johannesburg, 3 November 2000: Durban Roodepoort Deep, Limited (DRD) Chairman Mark Wellesley-Wood announced today that CEO Mike Prinsloo would be relinquishing his role as CEO of the company and has taken indefinite leave.

As a result former DRD Chief Operating Officer Francois Weideman (who has 42 years mining experience) has been appointed Operations Director. As an interim measure, Chairman Wellesley-Wood will also assume the role of Chief Executive of the company. Wellesley-Wood has also asked former Chairman Roger Kebble to assist in an executive capacity during this time and he has agreed to become Deputy Chairman.

Prinsloo said that his three-year term at DRD had been an extremely challenging one, during which time the group had been extensively restructured under very difficult circumstances. He added that the time has now come for him to step back and consider his future in general.

The Board has accepted Prinsloo's decision and has paid tribute to the contribution that he has made to the repositioning of DRD from a marginal operator of low-grade mines to a close on one million ounce, longer life, producer.

Wellesely-Wood noted that Prinsloo's departure from DRD was in no way related to the company's investigations into certain financial irregularities.

Queries:
Charmane Russell
(011) 880-3924
27 82 372 5816

Janice Dempsey
(011) 880-3924
27 82 376 2327