JSE-listed Sibanye-Stillwater has advised shareholders that, following the yearly review of governance effectiveness and, in line with the simplification drive across the group, the board has approved changes to its committee structures, effective from the close of this year’s AGM, scheduled for May 28.

Sibanye-Stillwater says it will, beyond May 28, have five board committees, namely the audit and risk committee; the remuneration committee; the social, ethics and sustainability committee; the safety and health committee; and the nominating and governance committee.

As part of this review, the audit committee and the risk committee have been combined into a single audit and risk committee to enhance integrated oversight of financial, operational and strategic risks.

The company notes that the board has further resolved to dissolve the investment committee.

It explains that matters previously delegated to the investment committee, including material investment or divestment decisions, will be considered directly by the board.

Additionally, Sibanye-Stillwater says all committee chairpersons remain unchanged except for the remuneration committee, where Timothy Cumming will retire from the board and will not stand for re-election at the AGM; and Keith Rayner has been appointed chairperson of the remuneration committee, effective at the close of the AGM.

Terence Nombembe, who is the chairperson of the audit committee, will chair the combined audit and risk committee.

All members of the combined audit and risk committee are confirmed as independent nonexecutive directors.

Meanwhile, Sibanye-Stillwater also advises shareholders that the board has removed the nonexecutive director age-based retirement limit from its governance framework.

The company says all directors will be subject to yearly fit, proper and capability assessments, consistent with good corporate governance and the JSE listings requirements.

More detailed information regarding board composition, committee membership and governance enhancements will be included in the group’s 2025 integrated report.