South Africa's Exxaro CEO to retire in 2023

  • Reuters
  • Stock Market News
South Africa's Exxaro CEO to retire in 2023
Credit: © Reuters.

JOHANNESBURG, March 18 (Reuters) - South African coal company Exxaro Resources Ltd EXXJ.J on Thursday said Chief Executive Officer Mxolisi Mgojo would retire in May 2023.

The company said Nombasa Tsengwa, currently Exxaro's managing director of minerals, has been appointed as CEO-designate and will take the helm once Mgojo reaches the retirement age of 63.

The miner, which was reporting annual results for the year ended December, also declared a final dividend of 12.43 rand ($0.85) per share - up 6.77 rand compared with the previous year - and a special dividend of 5.43 rand per share. ($1 = 14.6709 rand)

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