KAZ Minerals plc announced changes to the Board with effect from 1 January 2018. Simon Heale, the non-executive Chairman of the company, will retire from the Board having served eleven years with the company, including five as Chairman. Oleg Novachuk, Chief Executive Officer, will become Chair.

Andrew Southam, Chief Financial Officer, will be appointed Chief Executive Officer. Michael Lynch-Bell, Senior Independent Director will be additionally appointed Deputy Chair with responsibility for Board governance matters and to represent the interests of independent shareholders constituting the Group's majority free float. A process is under way to identify and appoint a new independent non-executive Director and a new Chief Financial Officer.

Andrew Southam, currently Chief Financial Officer, will be appointed to the role of Deputy Chief Executive Officer and Chief Financial Officer with effect from 1 July 2017 and will succeed Oleg Novachuk as Chief Executive Officer with effect from 1 January 2018. Andrew Southam is ideally placed to take on the role of Chief Executive Officer and is Oleg's clear successor with a deep understanding of the business of the Group, its culture and stakeholders in the UK and Kazakhstan. As Chief Executive Officer, Andrew will be responsible to the Board for the executive management of the Group including leadership of the Executive Committee and implementation of the Group's strategy.

A process is underway to appoint a new Chief Financial Officer. The division of responsibilities between the Chair, Deputy Chair and Chief Executive Officer have been clearly defined and approved by the Board. The Chair will lead the Board other than in matters of governance, which will be led by the Deputy Chair.

In addition, the Chair will be responsible for the development of strategy, government relations and business development. The Chief Executive Officer will be responsible for the day to day executive management of the Group. The Deputy Chair role will expand the authority and responsibilities of the senior independent Director.

Michael Lynch-Bell will lead on governance issues, including the annual review of Board effectiveness, the leadership of the Nomination Committee and acting as an intermediary between non-executive Directors and the Chair. The Deputy Chair will also provide a point of contact between the Company and independent shareholders who may wish to raise issues with the Board other than through the Chair.