Mining giant Anglo American has appointed Mark Cutifani of AngloGold Ashant as Chief Executive to replace Cynthia Carroll.
Cutifani will take the reins in April with a pay packet worth around £2.38m, including salary and bonuses.
He has been Chief Executive Officer of AngloGold Ashanti, the South Africa-based gold producer, since 2007 and led the restructuring and development of its business.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This includes operations in ten countries on four continents.
Anglo American's Chairman, Sir John Parker, said Cutifani is an experienced listed company chief executive with a focus on creating value.
"He is a seasoned miner, with broad experience of mining operations and projects across a wide range of commodities and geographies, including South Africa and the Americas," he said.
"Mark is a highly respected leader in the global mining industry, with values strongly aligned to those of Anglo American."
Cynthia Carroll, the first woman and non-South African to run the company, announced she was leaving in October.
This followed pressure from some shareholders who were concerned about profit levels.
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
-
UK-EU trade deal: Britain to get a £9bn boost to the economy by 2040The government’s agreement with the EU follows on from separate deals with India and the United States. Will it breathe life into the UK economy?
