Cynthia Carroll News
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Anglo American Plc, the world’s biggest platinum producer, said output of the metal fell 2 percent in the first quarter because of strikes at some of its operations.
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Mark Cutifani, who today replaced Anglo American Plc head Cynthia Carroll, will assess the company’s assets and commodities within the next four months to ensure it’s squeezing the most value from its businesses.
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Anglo American Plc was downgraded by Standard & Poor’s on concern the miner’s capital spending and dividend payments will erode cash flow and boost borrowings.
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Anglo American Plc. said its biggest project, the $8.8 billion Minas-Rio venture in Brazil, is 60 percent complete as the London-based miner discusses terms of its port terminal agreement with Eike Batista.
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Anglo American Plc Chief Executive Officer Cynthia Carroll received 24 percent less pay in 2012, the last of her five full years in charge of the company during which it lost almost a quarter of its value.
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Driving northeast from Santiago, the road corkscrews toward the shark’s-grin skyline of the Andes Mountains. In winter, Santiago’s smart set plies this route, heading for virgin-powder days and pisco-sour nights at La Parva ski resort. Most have no inkling that in a high mountain valley just over the ridgeline, excavators the size of houses have sculpted the mountainside into a steeply terraced pit 1,800 feet deep, Bloomberg Markets magazine reports in its September issue.
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Anglo American Plc Chief Executive Officer Cynthia Carroll will receive about 2.1 million pounds ($3.2 million) as she leaves the mining company next month, according to a person with knowledge of the matter.
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Anglo American Plc, which swung to a full-year loss after a $4.6 billion writedown at its biggest project, rose to the highest in five weeks in London as Chief Executive Officer Cynthia Carroll said 2013 would be better.
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Cynthia Carroll, the Anglo American Plc chief stepping down in two months, said her successor’s main challenge will be returning the company’s platinum unit to profitability after strikes last year wiped out earnings.
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Anglo American Plc Chief Executive Officer Cynthia Carroll, the first woman, external hire and non- South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge.
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