Anglo American appoints Stuart Chambers as Chairman

Anglo American has appointed Stuart Chambers as its new chairman, the FTSE 100 company announced on Wednesday.

Anglo American has appointed Stuart Chambers as its new chairman, the FTSE 100 company announced on Wednesday.

Mr Chambers, a former chairman of British smartphone chip designer ARM Holdings, will take up his position in September.

The new chairman, who steered ARM through an historic $32 billion takeover by Japan’s SoftBank last year, will join Anglo as it seeks to share in the raw materials recovery, following the 2016 downturn.

The company’s shares fell to a record low in early 2016 and CEO Mark Cutifani announced a plan to dramatically downsize the company through asset sales. This plan was put into reverse gear when commodity prices revived.

Mr Chambers is a former CEO of Nippon Sheet Glass and Pilkington Plc. He has also served as a non-executive officer on the boards of Tesco Plc and Smiths Group Plc. “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 in a statement.

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