Anglo American PLC (LON:AAL) has appointed former ARM Holdings and Rexam PLC boss, Stuart Chambers as its chairman, replacing Sir John Parker from November 1.
Chambers will join the FTSE 100-listed miner’s board as a non-executive director and chairman designate on September 1 and will become chairman two months later.
Parker announced his intention to step down during the course of the year in February, after serving eight years as Anglo’s chairman.
Chambers was chairman of taken-over chipmaker ARM Holdings PLC and of paper and packaging firm Rexam PLC until 2016, and has served as a non-executive director on the boards of Smiths Group PLC and Tesco PLC, amongst others.
Former chemical engineer
He began his career as a chemical engineer and had an executive career at Nippon Sheet Glass (formerly Pilkington), Mars Corporation and Shell.
Chambers said: "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.
“I am really looking forward to working with the Board and the executive team led by Mark Cutifani to ensure that Anglo American continues to go from strength to strength."
Mark Cutifani, Anglo’s chief executive of Anglo American, added: "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.”
Back at the end of April, Anglo kept its full-year production guidance for all its metals, aside from nickel, unchanged in a quarterly update which showed a decline in copper but strong growth in iron ore production.
READ: Anglo American maintains full-year production guidance for all metals, aside from nickel
In a production report for the first quarter ended 31 March 2017, the FTSE 100-listed firm said its copper production decreased by 3% to 142,600 tonne as a continued strong performance at its Collahuasi project was offset by expected lower grades and increased ore hardness at Los Bronces, and the temporary suspension of mining operations at El Soldado.