Anglo American plc announced on Tuesday that Sir John Parker has informed the nomination committee of the board of his intention to step down during the course of this year, after serving eight years as chairman.
Recognised as a highly experienced and independent executive, British businessman Parker became the chairman of Anglo American plc in August 2009.
In a statement, Parker said chairing Anglo American had been an enormous privilege, and it had also appealed to his close interest in engineering, technology and corporate turnarounds.
“Having seen Anglo American emerge in a strong position from the mining industry downturn, with its sharp falls in commodity prices between 2014 and 2016, I believe that the time is now right for the Board to seek my successor during the course of 2017,” Parker said.
“The company, with its much restored balance sheet and a world class board and management team, led by our chief executive Mark Cutifani, is well placed for the future. The ability of companies to adapt, innovate and think creatively about the role they can play in society is a key ingredient of long term competitive advantage.”
Anglo American’s senior independent director, Sir Philip Hampton, would now lead a process to identify candidates with appropriate global listed company boardroom experience.