Annual Financial Statements for the year
ended 31 December 2009

Arrow Corporate governance statement
Arrow Audit committee report to shareholders
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Board of directors

Lazarus Zim
Chairman (49)

MCom, DCom (hc)

Lazarus Zim is the chairman of Mvelaphanda Resources, Northern Platinum and Afripalm Resources. Previously, Lazarus was chief executive of Anglo American South Africa and managing director of MTN International.

Chris Griffith
Chief executive officer (45)

BEng (Mining) (Hons), Pr Eng

Chris was previously the executive head of joint ventures for Anglo Platinum Limited. Chris has over 19 years of mine management experience. He was previously general manager of Anglo Platinum’s Amandebult Platinum Mine and Bafokeng Rasimone Platinum Mine.

Vincent Uren
Chief financial officer (48)


Vincent has 20 years’ experience in corporate finance, many of these gained with the Anglo American plc group where he was involved in a number of diverse and complex local and international transactions.

Philip Baum**
Non-executive director (55)

BCom, LLB, HDip Tax Law

Philip was chief executive officer of Anglo American’s Ferrous Metals and Industries division. He was a member of Anglo American plc’s executive committee. Other directorships include Minas RIO, Tongaat-Hulett, Hulamin and Samancor Manganese.

Allen Morgan
Independent non-executive director (62)

BSc, BEng (Elect), Pr Eng

Allen is a non-executive director of Eskom Holdings and served as the Eskom chief executive between 1994 and 2000. He previously served as the chairman of Kumba Resources.

Gert Gouws
Non-executive director (51)

BCom (Law), BCom (Hons), CA(SA), FCMA

Gert is the chief financial officer and alternate director of the Industrial Development Corporation. He is also a director of Hernic Ferrochrome, Algorax and Umicore Autocat South Africa.

Dolly Mokgatle
Independent non-executive director (53)

BProc, LLB, HDip Tax Law

Dolly is an executive director of the Peotona group. She is chairman of EDI Holdings and deputy chairman of the National Energy Regulator of South Africa (NERSA). She also holds several other corporate directorships. She was the chief executive officer of Spoornet and managing director of transmission at Eskom.

Peter Matlare
Independent non-executive director (50)

BSc (Hons) (Political Science),
Masters (Southern African Studies)

Peter is chief executive officer of Tiger Brands. He was chief strategy and business development director in the Vodacom Group. His previous positions include commercial director of Vodacom South Africa, and chief executive officer of the SABC.

Zarina Bassa
Independent non-executive director (46)

BAcc, CA(SA)

Zarina is the chief executive officer of Zarina Bassa Investments and serves as a director on a number of private and public institutions. She was previously an executive director at Absa Bank and a member of the Absa Group executive committee, with accountability for private banking and retail banking services. She has previously also served as the vice chairman of Absa Retail Bank. Prior to joining Absa, she spent 17 years with Ernst & Young and was appointed a partner in 1986.

Nkosana Moyo*/**
Independent non-executive director (58)

PhD (Physics), MBA

Nkosana is the vice-president and chief operating officer of the African Development Bank. He was a partner at Actis Capital llp Africa. He also worked for the International Finance Corporation in Washington DC and served as Zimbabwe’s Minister for Industry and Trade.

* Zimbabwean.
** Resigned with effect from 12 January 2010.


  A member of the Anglo American plc group