Anglo gains after 'surprise' departure of CEO Cynthia Carroll - UPDATE

Shares in Anglo American rose strongly on Friday after the firm announced that its Chief Executive Officer (CEO) Cynthia Carroll called it quits after five years on the job.

Shares in Anglo American rose strongly on Friday after the firm announced that its Chief Executive Officer (CEO) Cynthia Carroll called it quits after five years on the job.

Carroll, who joined the Anglo American board in January 2007 and took up the CEO position in March of that year, is thought to have been under intense pressure from investors on the back of a declining share price and the company's significant exposure to the volatile South African mining industry which has been hit by countless strikes this year.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.