chrisgriffithBL Premium reports that Anglo American will replace Chris Griffith, CEO of its platinum division, Anglo American Platinum (Amplats), with an internal appointment, thereby ruling out a host of external candidates.  

Griffith surprised the market on Monday by announcing his departure from Amplats, prompting speculation about what was behind his resignation after seven years as head of the world’s second-biggest platinum miner.  "It was a surprise, but if you think about it, what was left for him to do at Amplats?  He’s done the big things.  All that’s left now are quite small, incremental things," noted Nedbank analyst Arnold van Graan.  Griffith said on a media call that his replacement would be made internally at Anglo, which has mines in copper, diamonds, iron ore, coal, nickel and platinum group metals, but he gave no clue as to which division could be called upon for a CEO.  Griffith, who has 30 years of experience within Anglo, said he was "nervously excited" about leaving the company.  He ruled out any difference of opinion between Anglo, as the majority shareholder, and himself as the reason for leaving.  "Chris’s track record at Kumba and now at Amplats is strong.  He’s leaving Amplats with record results, its best safety record, billions of rand in cash, strong dividends, and a successful turnaround of the business during his time," noted an analyst, who added that his record made him “very marketable."


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