By Ian Walker 
 

Anglo American PLC said Wednesday that Chief Executive Mark Cutifani will retire next year after nine years in the role and be replaced by Duncan Wanblad.

The FTSE 100 mining company said that Mr. Cutifani will step down from his role on April 19 but has agreed to remain with the company until June 30 to support the transition. He will receive a payment in lieu of unworked notice, good leaver treatment over outstanding share awards and a pro-rated cash bonus in respect of time served to June 30. He will also continue to receive his normal salary, pension and benefits up to the end of his employment, Anglo American said.

Mr. Wanblad has 30 years of international mining experience and a deep understanding of Anglo American, the company said. He will receive an annual salary of 1.3 million pounds ($1.8 million) and get a maximum annual bonus of 210% of basic salary for 2022.

 
 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

November 03, 2021 03:40 ET (07:40 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Anglo American (LSE:AAL)
Gráfico Histórico do Ativo
De Dez 2021 até Jan 2022 Click aqui para mais gráficos Anglo American.
Anglo American (LSE:AAL)
Gráfico Histórico do Ativo
De Jan 2021 até Jan 2022 Click aqui para mais gráficos Anglo American.