Anglo American Announces Board Changes
Fakude will step down as a non-executive director on the board of Anglo American on 31 August 2019 in order to take up this new executive role and join the Group Management Committee of Anglo American as Group Director – South Africa, reporting to Mark Cutifani, CEO of Anglo American. Fakude’s appointment follows the retirement of Norman Mbazima after 18 years with Anglo American. The company has also announced that Themba Mkhwanazi, CEO of Kumba Iron Ore since 2016, has also joined the Group Management Committee of Anglo American, with effect from 1 August 2019. Mkhwanazi will continue to report to Seamus French, CEO of Bulk Commodities and other minerals.
Cutifani said: “Nolitha Fakude’s breadth of experience at Sasol and her board experience with us and other major organisations stand her in good stead as we build upon our sustainable partnerships with all our stakeholders in South Africa.”
Nolitha Fakude said: “After two years on the Board, I am proud to join Anglo American in an executive capacity. As South Africa’s most significant mining investor, to the tune of R72-billion over the next five years, we have a duty to keep improving the competitive position and performance of our businesses and for our stakeholder relationships to be mutually reinforcing. I am looking forward to working with government and regulators to help set up South Africa’s mining industry for long term success.”
Cutifani added: “Themba Mkhwanazi has led Kumba through a significant operational turnaround that has transformed the business’ performance and prospects, supplying some of the world’s highest quality iron ore that commands a significant premium in the global marketplace. In addition to his extensive operational and technical experience of the mining industry in South Africa, including key government enterprise relationships, Themba brings valuable additional insights from a number of markets and will add further depth to our executive team.”
Themba Mkhwanazi commented: “Within Anglo American, Kumba is one of South Africa’s great success stories. Over the last three years, we have uncovered the tremendous potential of the business, enabling us to maximise the benefit of current prices – marketing to the right customers at the right time, producing the right product for those customers, and enhancing cost discipline even as revenues go up. All the while, we are delivering significant and meaningful value for our stakeholders, including our host communities. And the good news is that we see so much more opportunity ahead. I look forward to contributing more to the decision-making of the Group as a whole.”