(Alliance News) - Anglo American PLC on Wednesday said it has "streamlined" its executive leadership team to reflect progress with the simplification of its portfolio.
The London-based miner said the move follows the completion of the demerger of Valterra Platinum Ltd and the agreed sales of its steelmaking coal and nickel businesses.
The company said it is consolidating its production businesses under a chief operating officer, with Ruben Fernandes to take on the role from the start of July.
Africa and Australia Regional Director Themba Mkhwanazi will step down at the end of June after overseeing the demerger of Valterra Platinum.
The CEOs of Anglo American's four production businesses - Ana Sanches in Brazil, Patricio Hidalgo in Chile, Tony Power for Peru and Mpumi Zikalala for Kumba Iron Ore Ltd - will now report to the new COO Fernandes.
They will "participate in the appropriate executive leadership team discussions to ensure that the full context of their respective businesses is incorporated into Anglo American's decision-making," the company added.
As chief executive officer of diamond company De Beers Group, Al Cook will remain part of the executive leadership team until the separation of De Beers from Anglo American has progressed further.
Anglo American's South Africa Chair Nolitha Fakude will continue to report to CEO Duncan Wanblad.
CEO Wanblad said: "We have made rapid progress with our portfolio simplification and we are on track to complete the strategic re-shaping of Anglo American to focus on our world-class positions in copper, premium iron ore and crop nutrients."
Shares in Anglo American were down 1.4% to 2,086.50 pence in London on Wednesday. In Johannesburg, shares were 0.5% lower at ZAR507.61.
By Michael Hennessey, Alliance News reporter
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Anglo American (AAL)
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