LONDON, July 5 (Reuters) – The chief executive of Anglo American Plc (AAL.L), Cynthia Carroll, will become the chairwoman at the group’s biggest unit, Anglo Platinum (AMSJ.J), which has been striving to cut costs.
Carroll, who launched a reorganisation of the group earlier this year to cut management layers, will take over as chairwoman on Sept. 1, following the resignation of Fred Phaswana, a statement said on Monday.
The company gave no further detail about the appointment.
Carroll has been closely involved with turning around South Africa’s Angloplat, which last year accounted for 31 percent of the group’s net operating assets but only 1 percent of operating profit.
On May 17, Angloplat, the world’s No. 1 producer of the metal, said its first-half headline earnings were expected to rise 20 percent compared with last year. [ID:nLDE64G1NG]
“I have worked closely with Cynthia since I became CEO of Anglo Platinum, during a time when we have achieved a significant restructuring and operational turnaround of the world’s leading platinum company,” Angloplat CEO Neville Nicolau said.
The firm said Valli Moosa will become deputy chairman of Angloplat. (Reporting by Eric Onstad; editing by Simon Jessop)