Sir John Parker, Chairman of Anglo American plc has expressed his intention of stepping down from the post he served in for eight years. He has conveyed this decision to the Nomination Committee of the Board of Anglo American, the Company announced.

 Parker said: “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. 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.”

He added: “Chairing Anglo American has been an enormous privilege and it has also appealed to my close interest in engineering, technology and corporate turnarounds. 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. These are qualities at the heart of Anglo American’s DNA.”

Anglo American announced that Sir Philip Hampton, Anglo American’s Senior Independent Director, will now “lead a process to identify candidates with appropriate global listed company boardroom experience”. Till such time as a successor is found and appointed, Sir John Parker will continue to chair the Board.