20th Apr 2016 14:09
LONDON (Alliance News) - Anglo American PLC Wednesday said Finance Director Rene Medori has decided to retire from his role, but has given plenty of notice to ensure an orderly handover to his successor.
Medori will retire once he reaches the age of 60 in 2017, and Anglo American is now initiating a formal process to find his replacement, which will include internal and external candidates, the FTSE 100-listed miner said.
Medori, who took up the role back in 2005, will continue in his role "until the appropriate time," Anglo American said.
"It has been a great privilege to serve as Finance Director of Anglo American. With a clear strategy in place and with our asset disposal programme expected to be well advanced by the time I step down, now is the right time for the Board to consider my successor," said Medori.
"Rene has served Anglo American with the utmost loyalty and we understand his decision to step back in due course. I have been personally grateful for his support following my appointment as Chief Executive and in helping to establish the roadmap to a new Anglo American," said Chief Executive Mark Cufitani.
Anglo American shares were trading up 4.8% to 788.80 pence on Wednesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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