RNS Number : 0007I

Anglo American PLC

30 November 2022

30 November 2022 
Anglo American senior leadership changes following Tony 
 O'Neill's decision to retire 

Anglo American plc ("Anglo American") announces that Tony O'Neill, Technical Director, has decided to retire and will step down from his role and from the Group Management Committee on 31 December 2022, after more than nine years. Mr O'Neill will also step down from the Board of Anglo American on the same date.

Duncan Wanblad, Chief Executive of Anglo American, said: "We thank Tony O'Neill for his enormous contribution to Anglo American. Tony's determined vision for a modern and more sustainable future for the mining industry that embraces technology to transform safety, productivity and our environmental footprint has shown us what's possible. Given how critical the products of mining are to people's everyday lives and to the urgent energy transition, it is our duty to supply those products responsibly. Tony has set us squarely on that path to fundamentally change for the better how our stakeholders experience mining."

Stuart Chambers, Chairman of Anglo American, added: "Tony has been a leading figure in the mining industry for many years, articulating the need for change in many of the industrial processes that have prevailed for decades and longer. His tenacity has opened the door to a host of technologies and digital applications that are increasingly relevant to sustain mining's social licence to operate and improve the investment case for accessing orebodies that are vital for future supply. On behalf of the Board, we wish Tony a happy and long retirement."

Tony O'Neill commented: "I have felt so privileged to lead such an inspiring team that has shared in my overwhelming desire to change the future of mining for the better - for people and our planet. I believe that Anglo American is well on the way to realising the full value that is inherent in both the portfolio and the capabilities we have built, as well as in the opportunities to access and develop new resources to meet the increasingly apparent demand trends. I thank my fellow GMC members, the Board and all my colleagues across Anglo American for everything we have achieved together."

Following Mr O'Neill's decision, the role will be divided into two to facilitate the next phase of prioritisation for Anglo American's technical disciplines to best support business performance: Matt Daley is appointed as Group Director - Technical, while the process to appoint the Group Director - Projects & Development is well advanced, with an announcement to be made in due course.

Group Director - Technical

Mr Daley will take up his new role as Group Director - Technical and join the Group Management Committee of Anglo American with effect from 1 January 2023.

Mr Wanblad added: "I congratulate Matt on his appointment, responsible for driving best practice levels of operational and technical excellence that will help us deliver safe and stable production from our mineral assets - and on a repeatable basis. As Group Head of Mining since 2017, Matt has led the transformation of many of our in-mine activities, while demonstrating the potential offered by achieving new benchmarks in equipment performance. Now we must embed that mindset consistently across our sites, with safety and reliability our primary focus."

Matt Daley said: "We have shown what we can achieve in our mining operations through a deliberate and an innovative mindset to set new performance benchmarks. I am excited to take on this new role and to drive that momentum across all our operational activities, from discovery to mining and processing. I believe that we can deliver further productivity improvements across the board, consistently and above all safely."

Remuneration arrangements

Tony O'Neill will step down from his role as technical director and from the Board on 31 December 2022 and he has agreed to be available to ensure a smooth handover until retiring on 30 June 2023. On his retirement, Mr O'Neill will receive good leaver treatment in respect of outstanding share awards. His outstanding LTIP awards will be pro-rated in respect of time served to 30 June 2023 and will vest at the normal time, to the extent that the performance conditions have been satisfied. These arrangements are in line with Anglo American's current remuneration policy and practice. Mr O'Neill will continue to receive his normal salary, pension and benefits up to 30 June 2023. He will not receive an annual bonus or LTIP award for 2023. Following his retirement, Mr O'Neill will be expected to maintain a holding of Anglo American shares of three times his salary on cessation, for a period of two years.

Full details of these remuneration arrangements will be set out in the 2022 Directors' Remuneration Report.

This announcement satisfies Anglo American's disclosure obligations in accordance with Listing Rule 9.6.11R.

Notes to editors:

Matt Daley is a mining engineer with more than two decades of underground, open cut, smelting, refining, project and commodity trading experience. He has lived and worked in Australia, South America, North America, the UK and the Middle East. Prior to joining Anglo American in 2017 as Group Head of Mining, Matt was the Executive General Manager for Glencore Canada based in Toronto and served as a non-executive director on the board of PolyMet Mining. He has previously worked for Xstrata and Minera Alumbrera and started his career with Mount Isa Mines in Queensland, Australia. Matt holds a B.Eng. Mining Engineering (Hons) from the University of South Australia and has completed post graduate studies in Finance and Investment.

Following Mr O'Neill's retirement from the Board, Anglo American's Board of Directors will comprise:

 Chairman          Executive directors         Non-executive directors 
 Stuart Chambers   Duncan Wanblad - chief      Ian Ashby 
                    executive                   Marcelo Bastos 
                    Stephen Pearce - finance    Hilary Maxson 
                    director                    Hixonia Nyasulu 
                                                Nonkululeko Nyembezi 
                                                Ian Tyler 
                  --------------------------  ------------------------ 

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers - safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel - with crop nutrients in development - we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.


For further information, please contact:

 Media                                       Investors 
   UK                                          UK 
   James Wyatt-Tilby                           Paul Galloway 
   james.wyatt-tilby@angloamerican.com         paul.galloway@angloamerican.com 
   Tel: +44 (0)20 7968 8759                    Tel: +44 (0)20 7968 8718 
   Marcelo Esquivel                            Emma Waterworth 
   marcelo.esquivel@angloamerican.com          Emma.waterworth@angloamerican.com 
   Tel: +44 (0)20 7968 8891                    Tel: +44 (0) 20 7968 
   South Africa                                Michelle Jarman 
   Nevashnee Naicker                           michelle.jarman@angloamerican.com 
   nevashnee.naicker@angloamerican.com         Tel: +44 (0)20 7968 1494 
   Tel: +27 (0)11 638 3189 
   Sibusiso Tshabalala 
   Tel: +27 (0)11 638 2175 

Forward-looking statements:

This document includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, those regarding Anglo American's financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserve and Mineral Resource positions) and environmental, social and corporate governance goals and aspirations, are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, mineral resource exploration and development capabilities, recovery rates and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to produce and transport products profitably, the availability of transport infrastructure, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this document. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share. Certain statistical and other information about Anglo American included in this document is sourced from publicly available third party sources. As such it has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.

Legal Entity Identifier: 549300S9XF92D1X8ME43

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November 30, 2022 02:00 ET (07:00 GMT)

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