London: Global miner Anglo American, hit by violent strike action in South Africa, said on Friday that Cynthia Carroll was stepping down as its chief executive.
“It is a very difficult decision to leave, but next year I will be entering my seventh year as chief executive and I feel that the time will be right to hand over to a successor who can build further on the strong foundations we have created,” Carroll said in a company statement.
Anglo American said Carroll would remain in the post until the appointment of her successor.
The announcement of her decision to stand aside comes a day after Anglo American slashed its forecast for annual platinum production amid deadly strikes at the group’s troubled South African operations.
Earlier this week, Carroll had urged South African authorities to restore order. Last week, she met South Africa’s mining and finance ministers as a mass strike for wage increases cripples production at Anglo American’s platinum unit.
“It has been a great honour to lead Anglo American,” Carroll said in the statement that made no reference to the current problems in South Africa.
“I am extremely proud of everything we have achieved during my period as chief executive and I will always retain enormous admiration and affection for this great company and its outstanding people.”
Her tenure has taken in the global financial crisis and a boom in demand for commodities, especially from the world’s second-biggest economy China.
“Under Cynthia’s leadership, after a record (earnings) year in 2008, the group successfully weathered the global financial crisis,” Friday’s statement said.
“In 2011, Anglo American again achieved record profits… enabling it to enter the current economic downturn in a strong position.”
Anglo American chairman John Parker said Carroll had had “a transformational impact on Anglo American.”
He added: “She developed a clear strategy, based on a highly attractive range of core commodities, and created a strong and unified culture and a streamlined organisation with a focus on operational performance.
“Her legacy will include, among many other things, a step change improvement in safety, sustainability and the quality of our dialogue with governments, communities and other stakeholders.”
Carroll’s departure meanwhile means that only two out of the 100 companies trading on London’s benchmark FTSE index will be led by female chief executives.
British publisher Pearson said earlier this month that its chief executive Marjorie Scardino was stepping down, leaving Burberry’s Angela Ahrendts and Imperial Tobacco’s Alison Cooper as the only female chief executives of FTSE 100 firms.
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