Update on position of Chief Financial Officer

RNS Number : 5614B

RHI Magnesita N.V.

21 September 2018

 

RHI Magnesita N.V.

("RHI Magnesita" or the "Company")

UPDATE ON POSITION OF CHIEF FINANCIAL OFFICER

Vienna/London, 21^th September 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

On June 5, 2018, RHI Magnesita announced that Octavio Pereira Lopes, its CFO and Executive Director, had informed the Board of his intention to leave the Company by the end of 2018 and return to Brazil. The Company also announced that a broad search process to appoint his successor was being put into effect.

RHI Magnesita is pleased to announce today that Ian Botha, currently CFO of Anglo American Platinum,  has been nominated as its new CFO and Finance Director for appointment in the 2019 Annual General Meeting. Ian will join our Company on 1 April 2019.  Octavio Lopes, will until his departure, focus on delivering the final steps of the merger between RHI and Magnesita. In the period until Ian Botha commences with the Company, Eduardo Gotilla, the VP of Corporate Finance and Investor Relations will with immediate effect assume the role of acting CFO of RHI Magnesita. As the former CFO of Magnesita he has played a pivotal role in the integration of the finance organisation into RHI Magnesita, and also successfully led the refinancing of the Company. He will continue to deliver the CFO agenda.

Commenting on this announcement, Stefan Borgas, the CEO of RHI Magnesita said:

"Ian has enjoyed a highly successful international career with Anglo American in the related mining and metals industry, latterly as CFO of Anglo Platinum. His significant experience in finance & accounting, investor relations and governance, as well as his excellent business acumen and track record in financial and performance improvements makes him an ideal appointment. Additionally, his fit with RHI Magnesita's management culture and complementarity with our Company's top leadership team further adds to Ian's credentials".

The Chairman of RHI Magnesita, Dr Herbert Cordt commented:

"This appointment reflects RHI Magnesita's fundamental strengths and exciting prospects in being able to attract someone with Ian's track record and capabilities. Together, Stefan and Ian will be a formidable combination and with my fellow Directors I look forward to welcoming Ian to our Board".

No further information is required to be disclosed under 9.6.13 of the UK Listing Rules.

Enquiries:

RHI Magnesita N.V.

Guy Marks, Head of Investor Relations
Tel [phone]
E-mail: [e-mail]

Stefan Rathausky, Head of Corporate Communications

Tel [phone]

E-mail: [e-mail] 

About RHI Magnesita

RHI Magnesita is the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves more than 10,000 customers in nearly all countries around the world.

The Company has unmatched geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.

Its shares have a premium listing on the London Stock Exchange (symbol: RHIM) and are a constituent of the FTSE 250 index.

For more information please visit: www.rhimagnesita.com.

 

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