Belfast Telegraph

Stuart Chambers named as new Anglo American chairman

Anglo American has appointed Stuart Chambers as its new chairman ahead of the departure of Sir John Parker.

The mining giant said Mr Chambers, who was chairman of ARM Holdings and Rexam until last year, will take the role in November.

Mr Chambers has also served as a non-executive director on the boards of Smiths Group and Tesco following an executive career at Nippon Sheet Glass, Mars and Shell, where he began his career as a chemical engineer.

Mr Chambers said: "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."

Sir John announced in February his intention to step down after eight years as chairman.

The same month, Anglo announced it had swung to a full-year profit after it was boosted by recovering commodity prices, such as coal and iron ore, and a cost-cutting drive.

Chief executive Mark Cutifani said: "We have materially restored Anglo American's balance sheet and transformed the business performance over the last three years, and our task now is to unlock the very considerable value that we can see from our world-class asset base."