Cape Town – Anglo American on Wednesday announced that Stuart Chambers will replace Sir John Parker as chairperson later this year.
Chambers will join the board as a non-executive director and chairperson designate on September 1 2017 and will become chairperson on November 1 2017, when Parker steps down.
“Chambers succeeds Sir John Parker, who announced in February 2017 his intention to step down during the course of the year, after serving eight years as chairman,” Anglo said in a statement on Wednesday.
Chambers was chairperson of ARM Holdings and Rexam until 2016. In recent years, he has served as a non-executive director on the boards of Smiths and Tesco, following an executive career at Nippon Sheet Glass, Mars Corporation and Shell, where he began his career as a chemical engineer.
“I am delighted to welcome Stuart Chambers to Anglo American as my successor as chairman,” said Parker. “Stuart’s breadth of global executive experience, in addition to chairing two FTSE100 companies and serving on the board of several other international companies across the industrial, logistics and consumer sectors over the last 15 years, stands him in excellent stead.
“It is a great privilege to be appointed chairman of a company as iconic as Anglo American, in this its centenary year,” said Chambers.
“Anglo American has emerged from the commodity price downturn more resilient and with a renewed sense of purpose, both strategically and in terms of the role it plays in society,” he said. “I am really looking forward to working with the board and the executive team led by (Anglo CEO) Mark Cutifani to ensure that Anglo American continues to go from strength to strength.”
Cutifani added: “I am looking forward to working with Stuart as we continue our rebuilding of Anglo American. Stuart has led and chaired major global businesses with many parallels to our organisation, in areas such as manufacturing process and technology led innovation.
“We have materially restored Anglo American’s balance sheet and transformed the business performance over the last three years, and our task now is to unlock the very considerable value that we can see from our world-class asset base.
"Sir John Parker has chaired Anglo American through challenging times with his trademark even hand and focus on the critical business issues. I have valued his guidance enormously. On behalf of all our employees around the world and the board, I thank Sir John for his tireless leadership over the past eight years and wish him the very best for the future.”