Neal Froneman has led the Sibanye-Stillwater Group since 2013, guiding the initial turnaround of the three mature, challenging gold mines that the Group inherited from Gold Fields. Picture: Courtney Africa/Independent Newspapers
Sibanye-Stillwater has confirmed that its long-serving CEO, Neal Froneman, will retire effective 30 September 2025, heralding a significant leadership transition within the multinational mining and metals processing group.
Richard Stewart, currently the Chief Regional Officer for the Southern Africa region, has been appointed as CEO designate from 1 March 2025, while continuing to manage his current responsibilities.
Froneman’s retirement marks the end of a transformative era for Sibanye-Stillwater, which he has led since 2013.
The decision to appoint Stewart as Froneman’s successor follows a rigorous succession planning process overseen by the Board, showcasing Sibanye-Stillwater’s commitment to effective leadership development.
The board evaluated a range of candidates, both internal and external, ensuring that Stewart's extensive experience and grasp of the industry were paramount in this critical decision.
Since joining Sibanye-Stillwater in 2014, Stewart has been a pivotal figure within the executive leadership team. His diverse roles include serving as the chief operating officer and as the executive vice president for business development, where he played a crucial part in expanding the company's presence in the platinum group metals (PGM) sector.
His understanding of the business and strong strategic capabilities are expected to facilitate a smooth transition and foster ongoing growth for the organisation.
Vincent Maphai, chair of the Sibanye-Stillwater’s board, expressed deep gratitude for Froneman’s contributions.
“Neal has led the Sibanye-Stillwater Group since 2013, guiding the initial turnaround of the three mature, challenging gold mines that the Group inherited from Gold Fields. From the significantly more profitable and stable base that was established, he subsequently drove the strategic growth and diversification of the Group into what it is today - a multinational mining and metals processing company with a diverse portfolio of operations, projects and investments across five continents,” Maphai said.
“I, along with many of my fellow board members, have travelled this incredible journey with Neal and I know that my admiration for Neal’s strategic leadership and moral candour during his tenure and gratitude for his unwavering commitment is shared by all. I am sure that these sentiments are echoed throughout Sibanye-Stillwater, where Neal’s inspirational and values-based leadership in the role he defined as ‘Chief Enabling Officer’ will be sorely missed.”
Maphai said Froneman eaves a business which is in good health, financially and operationally, with a clear and consistent strategy.
He also welcomed Stewart’s appointment, saying the board was confident that this internal succession will ensure continuity and a seamless leadership transition, allowing him and the Sibanye-Stillwater leadership team to take the group to new heights and continued creation of shared value for all stakeholders.
“Neal leaves behind a proud legacy at Sibanye-Stillwater and in the South African mining industry, which is testament to his strategic vision and inspirational leadership,” Maphai said.
“As Neal expressed to me, while he has the same enthusiasm for what he does, and has lost none of his drive, he now wishes to spend more of his time with his family and loved ones and on his many interests.
“Neal’s legacy extends far beyond his role at Sibanye-Stillwater and he is highly regarded as a thought leader globally. His prominent roles as Chairman of the World Gold Council and co-leading the Crime and Corruption workstream for business in South Africa, amongst other high-level engagements, suggest that he will contribute to the advancement of the global minerals industry in various ways in future.”
BUSINESS REPORT