Anglo American restructures exec team as it simplifies portfolio

(Sharecast News) - Anglo American announced the restructure of its executive leadership team on Wednesday, to align with its ongoing portfolio simplification, following the completed demerger of Valterra Platinum and agreed sales of its steelmaking coal and nickel operations. From 1 July, all production businesses would be consolidated under a newly-created chief operating officer role, to be held by Ruben Fernandes.

Themba Mkhwanazi, regional director for Africa and Australia, would step down at the end of June after more than a decade at the company, having played a key role in the demerger of the platinum unit and previously leading its thermal coal, Kumba Iron Ore, and bulks businesses.

Chief executive Duncan Wanblad said the changes marked continued progress in reshaping Anglo American to focus on "world-class positions in copper, premium iron ore and crop nutrients".

The revised leadership structure would include seven functional executives alongside Wanblad and chief financial officer John Heasley.

They included Richard Price, legal and corporate affairs; Monique Carter, people and organisation; Alison Atkinson, projects and development; Helena Nonka, strategy and sustainability; Tom McCulley, technical; Al Cook, CEO of De Beers; and Matt Walker, marketing.

McCulley would also retain responsibility for the crop nutrients business.

De Beers CEO Al Cook would remain on the executive team until the diamond business was further separated from the group.

Meanwhile, the chief executives of Anglo's four production regions - Brazil, Chile, Kumba Iron Ore, and Peru - would report to Fernandes and contribute to group-level decision-making.

At 1214 BST, shares in Anglo American were down 1.54% at 2,084p.

Reporting by Josh White for Sharecast.com.