Sometimes its better to jump before you are pushed. Her tenure at the helm has been lackluster at best. So poor that at one time AA had been touted for a hostile take over by a less capitalised Xstrata. Since taking over in 2007 the AA share has lost half its value. She has promised $1 Billion cost savings which have not realized. Importantly she has failed to deliver a mega project Minus Rios in Brazil a 100 million tonne\annum Iron Ore mine. The project is now two years late. I guess the demands for R12 500 were the straw that broke the camel's back.
-----Original Message----- From: VC <[email protected]> Sender: [email protected] Date: Fri, 26 Oct 2012 09:26:10 To: <[email protected]> Reply-To: [email protected] Subject: [YCLSA Discussion] Cynthia Carroll resigning as CEO of Anglo American Business Day *Carroll resigns as CEO of Anglo American*** *Allan Seccombe, Business Day, Johannesburg, 26 October 2012* ANGLO American CEO Cynthia Carroll resigned her position as head of one of the world's major diversified resources companies, saying she felt it was the right time to step down. "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," Ms Carroll said in a statement. She will remain as CEO until a replacement is found. The board has agreed to her decision. She will step down as the chairwoman of Anglo American Platinum and De Beers when she is no longer Anglo CEO. Anglo owns 80% and 85% of those two companies respectively. Ms Carroll joined Anglo in January 2007 and was appointed CEO in March of that year. Anglo's chairman, Sir John Parker, who will lead the search for her replacement, said her leadership had been transformational for the company. "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," he said. *From: http://www.bdlive.co.za/business/mining/2012/10/26/carroll-resigns-as-ceo-of-anglo-american* ** ** ** -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] .
<<inline: BusinessDay.gif>>
