28th May 2015 09:25
LONDON (Alliance News) - Mining giant Anglo American PLC Thursday said it has made several changes to the management of its South African business which will "bring greater effectiveness" to the strategically important business.
All of the changes are effective from June 1, and will include group Chief Executive Mark Cufitani becoming chairman of the Anglo American South Africa board, as current Chairman Michael Spicer retires.
Chief Executive of Kumba Iron Ore Norman Mbazima will become the deputy chairman of AASA while continuing to lead the Kumba iron ore business. Andile Sangqu has been apponted as the executive head of AASA and report to Mbazima.
The current chief executive of AASA, Khanyisile Kweyama has also resigned in order to focus on her role as chief executive of Business Unity South Africa, said the company.
"As chairman, a key part of my role will be to reinforce our commitment as a development partenr for all of our stakeholders in South Africa and to support the South African leadership in building and maintaining stakeholders trust and confidence in the group," said Cufitani.
Anglo American shares were down 1.2% to 1,028.00 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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