Sibanye-Stillwater CCDO resigns for personal reasons
27 Jan 2025
Sibanye-Stillwater has announced the resignation of Laurent Charbonnier, its chief commercial and development officer (CCDO), effective 31 January 2025. While the company has attributed the departure to personal reasons, questions remain about the challenges that may have contributed to this significant leadership change. Charbonnier’s resignation comes at a time when Sibanye-Stillwater is addressing several operational and strategic hurdles.
The Keliber lithium hydroxide project will comprise five mining areas, a concentrator, refinery and auxiliary facilities at all sites. Source: Sibanye-Stillwater
The company posted a loss of R7.1bn in 2023, influenced by fluctuating commodity prices, lower production volumes, and rising debt to fund key projects like the Keliber lithium initiative.
From severe flooding at its Montana mines in the US to South Africa’s persistent power outages and strikes, production disruptions have been the norm over the last year.
On top of that, legal disputes and challenges regarding water quality and tailings management highlight the rising expectations for responsible environmental practices.
And the company was also the target of a cyberattack in mid-2024 added to operational risks, emphasising the importance of robust IT security in the mining industry.
Diversity is strength
Sibanye has shifted its focus toward diversification, particularly into battery metals like lithium, in response to the growing demand for green energy solutions.
However, this pivot introduces new complexities, requiring expertise beyond PGMs and gold.
Charbonnier, who joined Sibanye-Stillwater in 2020 with a strong background in mergers and acquisitions, played a pivotal role in the company’s high-profile acquisitions, such as Stillwater and Lonmin.
However, industry insiders speculate that this shift towards battery metals may not have aligned with his professional focus, potentially contributing to his decision to step down.
Leadership changes
The company has named Charl Keyter, its CFO, as interim CCDO. Keyter brings over two decades of mining experience and a deep understanding of core operations.
His leadership during this transition will be crucial as the company works to stabilise and pursue its strategic goals.
Charbonnier’s departure does, however, add to the growing list of changes within Sibanye’s leadership ranks.
As the company navigates market pressures, operational disruptions, and its ambitious diversification strategy, questions about its resilience and adaptability remain central.
