Global mining company Anglo American said yesterday that it was reorganising its team to enhance value and growth.
In a statement, the group said it had been refreshing the executive team steadily over the past 12 months, and it welcomed this new generation of Anglo American leadership. The organisational would take effect from July 1.
The tweaking of its management comes at a time commodity prices are expected to wane.
Global commodity prices are expected to decline this year at the fastest clip since the onset of the Covid-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report.
“As a team, we are embarking on our next phase of sustainable value creation," it said.
Anglo American CEO Duncan Wanblad said: “We are re-organising how we manage our production businesses and the functional expertise that supports them to drive safe and consistent operational excellence and enhanced value.
“We are building on the significant progress we have made in recent years to further improve our portfolio of world-class assets and deliver our growth potential – in service of our commitments to our shareholders, employees, and stakeholders, as a responsible producer of future-enabling metals and minerals,” he said.
The group said De Beers CEO Al Cook joined in February, Alison Atkinson took up her role as projects and development director in May, and Monique Carter joined as people and organisation director.
"Helena Nonka will lead a combined Strategy and Sustainability team, reflecting our resolute commitment to sustainability in its fullest sense as an integral part of our strategy and portfolio decisions. Richard Price leads a combined Legal and Corporate Affairs team, strengthening our integrated approach to our reputation across interconnected stakeholders and our employees to support strategic delivery and business performance,“ the group said.
Anglo American said Stephen Pearce continued to lead the Finance team across the group, but had indicated his intention to retire this year, having served as Finance Director since early 2017.
“The process to appoint his a successor is under way, with a further announcement in due course,” it said.
Anglo American said its production businesses would be consolidated into two regions: Americas and Africa and Australia, each led by a regional director to be based in Brazil and South Africa, respectively.
“They are accountable for safe and responsible operations, optimising current performance, future options, and commercial value, in line with the group’s strategy, and will work to ensure effective functional support and service delivery to their operations in each country,” the group said.
Regional director, Americas was Ruben Fernandes, the regional director of Africa and Australia was Themba Mkhwanazi, the CEO of De Beers is Al Cook, the CEO of Crop Nutrients was Tom McCulley and the CEO of Marketing was Peter Whitcutt.
Wanblad said several changes to the team reflected the long service of several of its senior executives and a variety of personal circumstances.
Wanbald said Nolitha Fakude had led the group's strategic interests in South Africa with great skill for the last four years and, before that, as a non-executive director on the board.
"I am delighted that she will continue as Chair of our management board in South Africa and lead a number of special projects in the national interest, while also advising me and supporting Themba in his new regional role. We thank her for her ongoing contribution," he said.
Wanblad said the fundamental demand outlook for responsibly sourced metals and minerals was ever more compelling.
"I believe that we are well positioned to produce and grow into the two major demand trends of economic decarbonisation and the needs of a growing and urbanising global population – from homes and electronics to food and luxuries. The changes we have announced create the senior team and organisational structure that I believe will lead us to deliver our full potential," he said.
By 5pm Anglo American’s shares were 1.99% lower at R 547.36.
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