Anglo American restructures management

ANGLO American has rejigged its top management team, with the head of its iron ore business in Brazil, Paulo Castellari, stepping down at the end of the year, and Bruce Cleaver, the head of strategy at De Beers, taking up the role of Anglo’s group director of strategy and business development.

Peter Whitcutt, the former director of strategy and business development, was appointed CEO of Anglo’s marketing business as the company looks to realise more financial benefit from directly selling its commodities to end-users.

“The full potential of our marketing business is clear and is ever more important to realise,” said Anglo CEO Mark Cutifani.

There was no mention in the Anglo statement of who would replace Mr Castellari, who oversaw the Minas Rio iron-ore mine.

“We will now be reviewing our business structures in Brazil to best serve our operational footprint, so will update in due course,” said spokesman James Wyatt-Tilby. Anglo said it would cut its staff to 98,000 from 152,000 in the next two years, with the bulk of those jobs going with sold mines, but 6,000 jobs would be cut in London, Johannesburg and regional offices.

Mr Cleaver, who will remain on the De Beers board as a nonexecutive director, was tasked with “ongoing analysis of global economic and commodity specific trends to inform the group’s strategy in a more volatile market environment”.

Mr Cleaver’s role at De Beers would be filled by that company’s chief financial officer, Gareth Mostyn, and the diamond miner would appoint a new chief financial officer.