ANGLO American plc’s chief executive of almost a decade, Mark Cutifani, has been lauded for his leadership in the South African mining industry and beyond after the 104-year-old company announced that he would be stepping down.
Anglo American said yesterday that South African Duncan Wanblad, 54, would be its new chief executive, signalling a new chapter for the globally diversified mining company with South African roots.
“There has been no greater privilege for me than leading Anglo American and our incredible people. Together, we have transformed our competitive position and led the way towards a very different future for mining – a safer, smarter future that delivers enduring value for all our stakeholders,” Cutifani said.
Cutifani, an Australian businessman, who took the helm nine years ago, placed safety and mining sustainability at the centre of the company and also made inroads in advancing the interests of the industry which accounts for 7.1 percent to GDP.
Minerals Council SA, which represents 80 percent of the local mining industry, said Cutifani’s role in not only Anglo American but the South African mining industry had been marked and profound, with two large new listed coal mining companies formed under his watch in a carefully considered asset restructuring that saved jobs and underpinned the secure supply of coal on which the country depends for its energy supply.
In line with Anglo American’s strategy to reduce exposure to fossil fuels, in June Cutifani completed the spin-off of the group’s South African thermal coal assets into the Thungela Resources
standalone entity which trades on the JSE and London Stock Exchange.
Council chief executive Roger Baxter said: “The Minerals Council looks forward to a strong relationship with Duncan and will give him whatever support it can in his new role when he starts in April 2022. Duncan is astute and his vast knowledge of multiple commodities and mining jurisdictions, especially South Africa, will stand him in good stead to lead Anglo American into a new era.”
Cutifani, a former president of the council that was previously known as the Chamber of Mines, succeeded Cynthia Carroll and previously served as the chief executive of AngloGold Ashanti.
Wanbald’s appointment takes effect from Anglo American’s annual general meeting in April next year when he will also join the board as an executive director. He is expected to work closely with Cutifani over the next few months to ensure a smooth leadership transition.
Wanblad is a mechanical engineer by profession and mining industry veteran boasting 30 years of international mining experience.
Anglo chairperson Stuart Chambers said Wanbald was a stand-out candidate and Cutifani’s natural successor with international mining industry experience and a deep understanding of the group. Chambers indicated that Wanblad had played a part in the company’s strong competitive position.
“Following a rigorous global process to identify Mark’s successor, including those on our internal succession plan, the board felt that Duncan is uniquely
qualified to take Anglo American on the next phase of improvement and to deliver what is one of the industry’s leading growth stories,” said the group.
Wanblad, who began his career at the Johannesburg Consolidated Investment Company in 1990, served as chief executive of Anglo American’s Base Metals business from 2013 to 2019.
Speaking during a media conference, Wanblad said he was excited to be a part of providing the solution the world needs to mitigate climate change towards decarbonisation. “I know that we have a great responsibility to provide the metals in a safe, sustainable and responsible way,” he said.
Asked whether he saw challenges in his tenure, Wanblad said he had no major apprehensions.
BUSINESS REPORT ONLINE