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JOHANNESBURG - Thungela Resources Limited (JSE:TGA)(LSE:TGA) announced Wednesday that Moses Madondo will formally assume the role of Chief Executive Officer with full executive responsibilities effective November 1, 2025.
Madondo, who was appointed as Executive Director and CEO Designate on September 8, has been working closely with outgoing CEO July Ndlovu to ensure a smooth leadership transition, according to a company press release.
Ndlovu will begin a period of "garden leave" from November 1 until his retirement on December 31, 2025, when he will step down as an Executive Director of the coal mining company.
The leadership change follows a structured handover process that has been underway for several weeks. The Board expressed appreciation to Ndlovu for his service since the company’s listing and welcomed Madondo as he prepares to lead the company’s next phase.
Thungela Resources, a thermal coal exporter with operations in South Africa, trades on both the Johannesburg Stock Exchange and London Stock Exchange.
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