Anglo American announces change in management structure

Friday, 23 Oct 2009

Anglo American plc has announced a number of changes across its businesses to create a more streamlined management structure and further focus the Group on its core mining portfolio.

Seven commodity business units are being created, with management teams located in the area of core geographic focus for the BU and responsible for operational performance and project delivery. These are:

1. Platinum (South Africa): CEO Neville Nicolau
2. Copper (Chile): CEO John MacKenzie
3. Nickel (Brazil): CEO Walter De Simoni
4. Metallurgical Coal (Australia): CEO Seamus French
5. Thermal Coal (South Africa): CEO Norman Mbazima
6. Kumba Iron Ore (South Africa): CEO Chris Griffith
7. Iron Ore Brazil (Brazil): CEO Stephan Weber

Five group directors, based in London, will be responsible for corporate functions, as well as providing strategic support to the BUs and ensuring the ongoing realization of group-wide synergies. They are:

1. Mr Rene Medori group finance director
2. Mr Brian Beamish group director mining & technology
3. Mr David Weston group director business performance & projects
4. Mr Mervyn Walker group director HR & communications
5. Mr Peter Whitcutt group director strategy & business development

Mr Duncan Wanblad, as group director non core assets, will manage this portfolio as a standalone unit. The divestment of these assets will be undertaken in a manner and on a timetable that will maximize value for Anglo American's shareholders. Preparatory work for the separation of these businesses from the Group’s core operations has commenced. Anglo American will provide further updates on the divestments as appropriate.

The business unit CEOs and Group Directors will report to Ms Cynthia Carroll CEO and together with her will form the Group's Executive Committee.

Ms Cynthia Carroll said that "I believe that these actions will position Anglo American well for sustained, profitable growth in the commodities we have identified as being the most attractive. The portfolio changes we have announced are the logical next step in focusing the Group on our core mining activities, enabling us to strengthen our balance sheet further. The delaying creates the opportunity for a new generation of executive management to come through and I look forward to working with them."