Anglo's new boss is Mark Cutifani

There is big news this morning, the confirmation has come from, wait for it, AngloGold Ashanti first (for me anyhow), that Mark Cutifani was leaving. Check it out: AngloGold Ashanti Announces Departure of Mark Cutifani. This is sad for AngloGold Ashanti, but I think that this is a very positive development for Anglo American. Anglo American have a nice picture of Cutifani on the front page of the Anglo American website, cracking no more than a grin. The official Anglo release: Anglo American appoints Mark Cutifani as Chief Executive. I think that this is awesome news for Anglo. Anglo stock is up on the news, whilst AngloGold Ashanti is down. There will be a lot written about the skills of Cutifani, but I think the clincher was his no nonsense attitude to the reality that faced the company when he was at the helm. I do not think he will sugar coat anything.


I suspect that he will be tasked with the tricky job of making sure that himself and Chris Griffiths give Anglo Platinum all of their attention. It is going to be a tough road ahead for making sure that the asset is restored to its former glory. It is after all 25 percent of NAV, but less than 5 percent profit contributor. It might be less in fact, I think it is closer to three percent. Another tough job will be making sure than the billions sunk into Minas Rio bear fruit for the shareholders. I am not too sure that Cutifani can speed that process up, but perhaps he could take a more practical approach. Maybe. Let's see, I wish him and the shareholders all the best of luck, everyone in the commodities space can always do with a whole lot of that!