BL Premium writes that Anglo American’s CEO-designate will have to deliver on a “really aggressive agenda” to ensure the company can sustain its strong share price performance and overtake larger rivals Rio Tinto and BHP Billiton.
So says outgoing CEO Mark Cutifani, who will step down in April 2022 and be replaced by Duncan Wanblad, an Anglo insider with three decades of experience, including heading up its platinum and base metals operations, and most recently its strategy division. Wanblad’s appointment has been widely welcomed, and had been expected for some time, after Cutifani signalled that he planned to end his nine years at the helm once Anglo commissioned its giant new Quellaveco copper mine in Peru, as it is due to do in April. Anglo chair Stuart Chambers said on Wednesday the company had conducted a rigorous global search for a successor and Wanblad was the “standout” candidate. Wanblad, who is a Wits University-educated mining engineer, is the first South African to lead the group since 2007. During Cutifani’s tenure, productivity has doubled and total shareholder return has averaged about 17%. Anglo plans to grow by 30% out to 2030, with a series of expansion projects under way globally. The group is also still targeting zero on its safety record.
- Read the full original of the report in the above regard by Hilary Joffe at BusinessLive (subscriber access only)
- Read too, Anglo American appoints first South African as CEO since 2000s, at BusinessLive (subscriber access only)
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