Exxaro And Former Coal Head Reach Mutual Agreement To Separate

Source: © WBHO WBHO Exxaro has reached a separation agreement with Kgabi Masia

The coal mining company made a statement on Monday, 5 May, regarding Masia, who had been the head of coal for the company since March, 2022.

Masia had been suspended on 24 April, along with several key employees.

“This development will not affect the company’s operations, as Mervin Govender will continue in his role as acting chief coal operations officer,” the company says in a statement.

Exxaro was focused on “the timely appointment of permanent candidates to fill critical roles,” it adds.

“The board and the new CEO of Exxaro remain committed to succession planning and the timely appointment of permanent candidates to all critical roles,” the company says in a May 5 statement.

Recently, the coal mining company has been through many high-profile departures.

CEO replacement

At the time of his suspension, Nombasa Tsengwa was the company CEO. Following bullying and intimidation allegations, Tsengwa was suspended. In the fall out up to nine executive and senior employees left the company.

Since then, Tsengwa resigned and was replaced by Ben Magara.

Tsengwa, who resigned in February, was replaced by Ben Magara, the former CEO of Lonmin and a non-executive at Exxaro Resources.

Since his appointment, Magara has reaffirmed the company's commitment to a diversification strategy, emphasising the need to pivot towards low-carbon minerals that are increasingly critical in today’s economy.

"We will use our coal production to expand our portfolio towards the critical low-carbon minerals essential for the future.,” he said on 13 March.

Masia is the subject of a board-sanctioned investigation by law firm Bowmans.