
Exxaro appoints Zimbabwean mining tycoon as chief executive, declares $165 million dividend
Ben Magara’s appointment follows a fast-tracked selection process after the resignation of former CEO Nombasa Tsengwa.
Ben Magara’s appointment follows a fast-tracked selection process after the resignation of former CEO Nombasa Tsengwa.
Commenting on the financial results, Tsengwa expressed confidence in the company’s ability to create value despite the challenges faced during the fiscal year.
Despite the recent decline in the market value of his stake, Mgojo remains one of South Africa’s most esteemed executives.
Under Mgojo’s leadership, Exxaro Resources attained unprecedented heights.
Tsengwa became the group CEO of Exxaro Resources in March 2021.
Mgojo owns a beneficial 0.17-percent ownership in the leading diversified resources firm.
The rise in the company’s earnings is attributed to increased equity-accounted income from Sishen Iron Ore.
Exxaro Resources has announced Nombasa Tsengwa as its new CEO-designate.