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| Anglo American names its next chief executive | Anglo American names its next chief executive |
| (about 2 hours later) | |
| Mining group Anglo American has announced that Mark Cutifani, the current boss of AngloGold Ashanti, will be its next chief executive. | Mining group Anglo American has announced that Mark Cutifani, the current boss of AngloGold Ashanti, will be its next chief executive. |
| Mr Cutifani will take up the top job at Anglo American on 3 April. | Mr Cutifani will take up the top job at Anglo American on 3 April. |
| An Australian, he replaces American Cynthia Carroll, who announced in October that she would be standing down after pressure from shareholders. | |
| Ms Carroll had been in the job for five years, during which time Anglo American saw a big fall in its share price. | Ms Carroll had been in the job for five years, during which time Anglo American saw a big fall in its share price. |
| Shares in Anglo American, the world's largest producer of platinum, were up 2.3% in early trading on the London Stock Exchange. | Shares in Anglo American, the world's largest producer of platinum, were up 2.3% in early trading on the London Stock Exchange. |
| 'Seasoned miner' | 'Seasoned miner' |
| Mr Cutifani, 54, becomes only the second non-South African to lead Anglo American, which gets more than half its earnings from the country, despite having operations in more than 20 countries. | Mr Cutifani, 54, becomes only the second non-South African to lead Anglo American, which gets more than half its earnings from the country, despite having operations in more than 20 countries. |
| Analysts said Anglo American was likely impressed by his five-year stewardship of South African gold miner AngloGold at a time when both companies have been affected by widespread strike action in South Africa's mining sector in recent years. | Analysts said Anglo American was likely impressed by his five-year stewardship of South African gold miner AngloGold at a time when both companies have been affected by widespread strike action in South Africa's mining sector in recent years. |
| AngloGold Ashanti was formed in 2004 from the merger of AngloGold and Ashanti Goldfields. AngloGold had previously been majority-owned by Anglo American, which has its headquarters in London. | AngloGold Ashanti was formed in 2004 from the merger of AngloGold and Ashanti Goldfields. AngloGold had previously been majority-owned by Anglo American, which has its headquarters in London. |
| Anglo American's chairman John Parker described Mr Cutifani as a "highly respected leader" in the sector. | Anglo American's chairman John Parker described Mr Cutifani as a "highly respected leader" in the sector. |
| Mr Parker added: "He is a seasoned miner, with broad experience of mining operations and projects across a wide range of commodities and geographies, including South Africa and the Americas." | Mr Parker added: "He is a seasoned miner, with broad experience of mining operations and projects across a wide range of commodities and geographies, including South Africa and the Americas." |
| Mr Cutifani will remain as chief executive of AngloGold Ashanti until the end of March. | Mr Cutifani will remain as chief executive of AngloGold Ashanti until the end of March. |