Anglo American plc (LON:AAL) has announced the appointment of Stuart Chambers as chairman, replacing the outgoing Sir John Parker.
The mining company, which is one of the largest in the world, announced on Wednesday that former ARM (LON:ARM) head Stuart Chambers is set to take up the role as non-executive director and chairman designate as of September 2017. From November of this year, he will formally assume the role as chairman.
Prior to his time at furniture giant ARM and his upcoming role at Anglo American, Mr Chambers enjoyed spells at Mars, Shell and Rexam, as well as serving as a boardmember of the UK’s biggest supermarket Tesco (LON:TSCO).
Mr Chambers said of his appointment: “It is a great privilege to be appointed chairman of a company as iconic as Anglo American, in this its centenary year. 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.
“I am really looking forward to working with the board and the executive team led by Mark Cutifani to ensure that Anglo American continues to go from strength to strength.”
Back in February, out-going chairman Sir John Parker announced his departure after eight years at the helm. Sir Parker was knighted back in 2001, having been recognized for his contribution to defence and shipbuilding and has been chairman of Anglo American since July 2009.
Sir Parker said of his successor: “I am delighted to welcome Stuart Chambers
to Anglo American as my successor as Chairman.”
He pointed to Mr Chambers “breadth of global executive experience, in addition to chairing two FTSE 100 companies and serving on the board of several other international companies across the industrial, logistics and consumer sectors over the last 15 years”, which he concluded “stands him in excellent stead” for the role.
Mr Chambers will be tasked with overseeing the company’s ambition to reduce its presence in South Africa, amid concerns of impending government mining legislation that is set to limit profitability in the region.
Shares in the company are currently up 1.48 percent at 11.12AM (GMT).