Anglo American unveils latest management overhaul

(Sharecast News) - Anglo American's finance head is to retire, the miner confirmed on Wednesday, as it unveiled its latest senior management shake-up.

The blue chip said Stephen Pearce, finance director since 2017, had confirmed he intended to leave the company later this year. A search for his replacement was already underway, it added.

In addition, Anglo American said it was consolidating its production businesses into two regions - the Americas, and Africa and Australia - with each led by a dedicated regional director. Ruben Fernandes will head up the Americas from Brazil while Themba Mkhwanazi, who is based in South Africa, will be in charge of Africa and Australia.

The changes will come into effect from 1 July.

They are the latest in a number of management changes Anglo American has made over the last year, including naming Al Cook chief executive of its De Beers diamond business and appointing Alison Atkinson, formerly chief executive of the UK's Atomic Weapons Establishment, projects and development director.

Duncan Wanblad, chief executive, said: "We are re-organising our how manage our production businesses and the functional expertise that supports them, to drive safe and consistent operational excellence and enhanced value.

"We have been refreshing the executive team over the last 12 months and we welcome this new generation of Anglo American's leadership. As a team, we are embarking on our next phase of sustainable value creation."

Anglo American