Anglo American has appointed Duncan Wanblad as its new CEO, replacing Mark Cutifani who is retiring next year after nine years in the role, the mining conglomerate announced on Wednesday.
Wanblad, 54, who is the firm’s director for strategy and business development, will take up the position in April 2022. The executive started his career at Johannesburg Consolidated Investment Company in 1990, and has held various positions at Anglo.
Cutifani will retire as CEO and step down from the board on 19 April 2022. He will remain employed by Anglo American until 30 June 2022 to continue to support the transition, according to the company.
Stuart Chambers, the chair of the Anglo American board said the appointment followed a rigorous global process to identify Cutifani’s successor, including those on the company’s internal succession plan.
“The board felt that Duncan is uniquely qualified to take Anglo American on the next phase of improvement and to deliver what is one of the industry’s leading growth stories.”
Wanblad, who is a Wits University graduate, is a non-executive director of De Beers and Kumba Iron Ore, and chairs the Anglo American Foundation. Between 2009 and 2013, he served as group director for a unit responsible for a global portfolio of mining and industrial businesses for disposal or turnaround.
He holds a BSc in Mechanical Engineering and a GDE in Industrial Engineering, both from the University of Witwatersrand.
The company said his basic salary is 1,250,000 pounds per annum, approximately R25.1 million.
