Anglo American boss Cynthia Carroll to step down

http://www.bbc.co.uk/news/business-20092787

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Cynthia Carroll is to step down as chief executive of mining giant Anglo American after six years in the job.

Earlier this year, a group of shareholders, unhappy with a sharp drop in profits, asked the chairman to look for a new chief executive.

Anglo American chairman Sir John Parker said her leadership had been "transformational".

No date has been set for her departure, which will leave just two women running the UK's biggest listed companies.

They are Angela Ahrendts at Burberry and Alison Cooper of Imperial Tobacco. Dame Marjorie Scardino, currently the chief executive of Pearson, is stepping down at the end of the year after 16 years in the job.

Anglo American shares rose 2% at the start of trading in London. Its shares have lost a third of their value in the past eight months.

Cynthia Carroll said it had been a difficult decision to leave.

"I am extremely proud of everything we have achieved during my period," she said.

"Next year I will be entering my seventh year as chief executive and I feel that the time will be right to hand over to a successor who can build further on the strong foundations we have created."

Sir John said she had "developed a clear strategy, based on a highly attractive range of core commodities, and created a strong and unified culture and a streamlined organisation with a focus on operational performance".

"Her legacy will include, among many other things, a step change improvement in safety, sustainability and the quality of our dialogue with governments, communities and other stakeholders. Her values represent the very best of Anglo American."

Ms Carroll was the first external appointment to the role of chief executive at Anglo American was she was given the top job in 2007.