By Lehlohonolo Lehana.
Sibanye-Stillwater, has confirmed that Richard Stewart will succeed Neal Froneman as the Chief Executive Officer (CEO) of the group, effective 1 October 2025.
Stewart has been with the group in several senior roles, most recently as chief regional officer for Southern Africa from May 2022. Prior to that, he was group chief operating officer from December 2020, and before that, executive vice president for business development.
The leadership change comes amid positive market conditions for Sibanye-Stillwater, with share prices climbing nearly 17% in the week preceding the transition, reaching a 52-week high of $11.25.’
This uptick coincided with rising precious metals prices, providing Stewart with favorable market momentum as he begins his tenure.
Stewart thanked Froneman for his “visionary leadership” and welcomed Bhulose to the group.
“We extend our sincere thanks to Neal for his visionary leadership over the last 13 years, and welcome Mdu to Sibanye-Stillwater, to guide the next part of our journey as we continue to deliver superior shared value for all stakeholders.”
The group also announced the appointment of Mduduzi (Mdu) Bhulose as executive vice president for business development. Bhulose joins from the Public Investment Corporation, where he was head of listed equities, and brings over 21 years of experience across mining, investment, and banking.
Bhulose holds a BSc in mining engineering and a graduate diploma in engineering in mining from Wits, as well as a Master of Business Administration from the Gordon Institute of Business Science.
Within the South African mining sector as a whole, Stewart is VP of Minerals Council South Africa, Fellow of the Geological Society of South Africa, and a registered natural scientist.
Stewart, 49, a doctor of geology from the University of the Witwatersrand (Wits), previously served as chief regional officer: Southern Africa from May 2022, following his tenure as group COO from December 2020.