Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) told investors that chairman John Kelly will step down from the role after next week’s annual general meeting, with independent non-executive director July Ndlovu lined up to succeed him.
The gold producer said the move forms part of its board succession plan. Ndlovu’s appointment as chairman remains subject to election by the board immediately after the AGM, which is scheduled for May 5, 2026.
Kelly, who joined the board in May 2012 and has chaired it for the past three years, is expected to remain as a non-executive director if re-elected by shareholders at the AGM.
The company highlighted that Kelly had guided the board through a period of transition, including continued operational delivery at Blanket Mine and the advancement of Caledonia’s growth strategy.
Chief executive Mark Learmonth said he looked forward to working with Ndlovu once formally elected as chairman, as the company continues to advance its strategy, including development of the Bilboes project.
Kelly added: "Caledonia is well-positioned for the future, underpinned by the strong performance of Blanket Mine and the progress being made towards Caledonia's next phase of growth. I have no doubt that July as Chairman will enhance the prospects for our continued success."