OREANDA-NEWS. At the Annual General Meeting in May 2012, Vladimir Kim announced that he would be stepping down as Chairman of Kazakhmys PLC (‘Kazakhmys’ or the ‘Group’) within the following 12 months. Following that announcement, the Nomination Committee carried out a search led by Philip Aiken, the Senior Independent Director, and assisted by an external recruitment consultant.

Kazakhmys now announces that Simon Heale, currently a non-executive Director of Kazakhmys, has accepted the post of Chairman from the conclusion of the Annual General Meeting to be held on 17 May 2013. In accordance with the announcement made in May 2012, Vladimir Kim will remain on the Board as a non-executive Director. Simon Heale will step down as Chairman of the Audit Committee and will become a member of the Health, Safety and Environment Committee.

Kazakhmys is also announcing the appointment of Michael Lynch-Bell as a new independent non-executive Director, with effect from 27 February 2013. Michael Lynch-Bell will replace Simon Heale as Chairman of the Audit Committee with effect from 17 May 2013.

Philip Aiken said: "We carried out an extensive process for the search for a new Chairman, which included a range of both internal and external candidates. Simon is an exceptionally able candidate and his knowledge of the Group will ensure a smooth transition. We now have a Chairman who will be independent upon appointment, which will ensure that Kazakhmys complies fully with the provisions of the UK Corporate Governance Code.”

Vladimir Kim said: "I am delighted that Simon has accepted the position of Chairman. His knowledge of Kazakhmys and our business will be invaluable. I remain committed to Kazakhmys and look forward to contributing and offering support to Simon and the Board. Having put in place the listing on the London Stock Exchange, secured financing and brought our major growth projects to development, I believe this is an appropriate time for change. Michael is an excellent addition to the Board with considerable experience in the global mining and energy sectors and related finance and assurance work.”