By Joe Hoppe

Anglo American said Wednesday that it is reorganizing its senior management team, with Finance Director Stephen Pearce planning to retire this year and the productions businesses set to be consolidated.

The company said that Pearce, who has held the role of finance director since early 2017, has indicated his intention to retire in 2023, and a process to appoint a successor is underway.

The company said it will consolidate its production businesses into two regions, Americas, and Africa and Australia, each led by a regional director based in Brazil and South Africa respectively. The organizational changes will take effect from July 1.

"We are building on the significant progress we have made in recent years to further improve our portfolio of world class assets and deliver our growth potential--in service of our commitments to our shareholders, employees and stakeholders," Chief Executive Duncan Wanblad said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

May 31, 2023 03:33 ET (07:33 GMT)

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