Kumba Iron Ore CFO Bothwell Mazarura to step down
The board has named Xolani Mbambo, currently Chief Executive of transport and logistics group Grindrod, as Mazarura’s successor.
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Kumba Iron Ore on Friday announced a planned leadership transition, with chief financial officer (CFO) Bothwell Mazarura set to step down at the end of the year after nearly eight years with the Anglo American unit.
Mazarura, who was appointed CFO and executive director in September 2017, will leave the position on December 31, 2025. He will continue to serve during his six-month notice period to ensure a smooth handover, the company said in a statement. Mazarura will also step down from his roles on the Social, Ethics and Transformation Committee and the Strategy and Investment Committee.
“It has been a privilege to serve as CFO of Kumba,” Mazarura said. “The journey has been filled with immense pride in what we have achieved together. While I will leave Kumba later this year, my commitment to delivering our clear objectives for the remainder of this year is as firm as ever.”
The board has named Xolani Mbambo, currently Chief Executive of transport and logistics group Grindrod, as Mazarura’s successor. Mbambo will assume the role of CFO and executive director from January 1, 2026, and will join the same board committees vacated by Mazarura.
Mbambo, a qualified Chartered Accountant (CA(SA)) and graduate of Harvard Business School’s Advanced Management Programme, brings more than two decades of experience in mining, logistics, and finance. Prior to his role at Grindrod, he held several senior positions at Anglo American, Kumba’s parent company.
“I am honoured to join Kumba at such a pivotal time in its journey,” Mbambo said. “Kumba’s commitment to operational excellence, shareholder value and sustainability resonates deeply, and I look forward to working with the talented team to build on the strong foundation laid by Bothwell.”
Kumba’s Chairman, Terence Goodlace, praised Mazarura’s leadership, calling it “instrumental in positioning Kumba for the future.”
“We extend our sincere gratitude to Bothwell for his outstanding leadership and dedication,” Goodlace said. “We also warmly welcome Xolani. His proven track record in mining and logistics, as well as his strategic acumen, will be invaluable as we advance Kumba’s operational goals.”
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