Anglo American Chairman Steps Down

The mining giant owns 85 percent of De Beers

Sir John Parker, chairman of Anglo American, will step down from that post after eight years at the helm, the company announced.

“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,” Parker said in a statement. “The company, with its much-restored balance sheet and a world-class board and management team, led by our [CEO] Mark Cutifani, is well-placed for the future.

The board is hunting for a successor. Parker will continue to chair the board until a replacement is found.

Anglo American owns 85 percent of De Beers.

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