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Wed 3 Apr 2013

New Anglo American CEO takes up position

  • By mariamartens and 1 other
  • Last Update: 4 years ago
  • London, England, United Kingdom

Mark Cutifani takes up the position of Anglo America's new Chief Executive. 

The Australian national replaces Cynthia Carroll who announced on October 2012 that, after serving as CEO for 5 years, she would be stepping down due to pressure from company shareholders. Following the announcement, shares in the company went up by 2.3 percent in the early trading on the London Stock Exchange. 

Anglo American is the world's largest producer of platinum, delivering about 40 percent of the entire global output. The mining company also deals with diamonds, copper, nickel, iron ore and thermal coal. 

To assume the role of CEO for Anglo American, Cutifani leaves his position as the Chief Executive of AngloGold, a South African mining company. His experience in the region contributed to his new appointment, since Anglo American derives more than half of its earnings from projects based in South Africa. 

According to Anglo American Chairman John Parker, Cutifani is a "highly respectable leader in the sector", with "broad experience of mining operations and projects across a wide range of commodities and geographies."

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