TIDMAAL TIDMWEIR
RNS Number : 3274H
Anglo American PLC
27 July 2023
27 July 2023
Anglo American appoints John Heasley as Finance Director
Anglo American plc ("Anglo American") announces the appointment
of John Heasley as Finance Director, following the May 2023
announcement of Stephen Pearce's decision to retire. Mr Heasley is
expected to join Anglo American and its Executive Leadership Team
by no later than the end of 2023, prior to joining the Board as an
executive director and taking over as Finance Director, thereby
enabling a smooth transition through the year-end financial
reporting process.
John Heasley has served as the CFO of The Weir Group PLC, the
FTSE100 listed global engineering company, since 2016. As CFO, John
has played a significant role in Weir's transformation to focus on
mining and the strategic delivery of technologies that improve
productivity and sustainability in the mining industry, as well as
driving performance improvement programmes.
Duncan Wanblad, Chief Executive of Anglo American, said: "I am
delighted that we will be welcoming John Heasley to Anglo American
as Finance Director. John brings proven financial, strategic and
commercial expertise, coupled with hands-on operational experience
of supporting sustainable mining through technology as a major
supplier to the mining industry over the last 15 years. We are also
very grateful indeed to Stephen Pearce for his continued commitment
as Finance Director until he hands over to John, focusing on
ensuring we deliver our cost discipline and capital expenditure
commitments, while ensuring a smooth transition."
John Heasley said of his appointment: "I'm proud and excited to
be appointed Finance Director of Anglo American, one of the world's
stand-out mining companies. As CFO of a major supplier to the
mining industry, I have for many years been passionate about the
role of technology, innovation and operational excellence in
helping to fundamentally change the future of mining. The metals
and minerals from mining have never been more essential and our
focus must continue to be on getting those products to market in
the most cost-effective and responsible way."
Stuart Chambers, Chairman of Anglo American, said: "John Heasley
brings great breadth of experience to the role of Finance Director
and we look forward to welcoming him onto our Board.
"I would also like to thank Stephen Pearce, on behalf of the
Board, for his enduring contribution to Anglo American and his
steady hand as Finance Director over seven years. We wish Stephen
well in his retirement."
Stephen Pearce commented: "It's been a real privilege to have
served as Finance Director as we transformed the quality,
resilience and future prospects of Anglo American. I am really
proud of what we have achieved and in particular the role the
Finance team has played and the transformation of our Finance
capabilities to support Anglo American as it moves into its next
phase of value delivery."
Notes:
John Heasley is the Chief Financial Officer and an executive
director of The Weir Group PLC, the FTSE100 listed global
engineering company providing engineering technologies to the
global mining industry, a role he has held since 2016. John joined
Weir in 2008 as Group Financial Controller and also served as
Interim Group Finance Director in 2009-2010. He has held a number
of senior operational and financial roles across Weir being a
member of the Group Executive since 2014, firstly as Divisional
President of the Weir Flow Control division before becoming Group
CFO. Prior to joining Weir, John served as Group Financial
Controller of ScottishPower plc, the former FTSE 30 Power Utility,
following an early career with professional services firms PwC and
Arthur Andersen in audit and mergers and acquisitions roles.
John holds a BA in Accounting and Economics from the University
of Strathclyde, Glasgow, UK and is a member of the Institute of
Chartered Accountants of Scotland. John is also a non-executive
director and Honorary Treasurer of the Royal Scottish National
Orchestra.
John Heasley will be subject to a standard Anglo American plc
employment contract which includes a notice period of 12 months.
John Heasley's remuneration package will comprise a basic salary
and variable incentive arrangements which are in line with Anglo
American's recently approved remuneration policy, including being
weighted towards longer term performance.
The key elements of the remuneration package are as follows:
-- Basic salary: GBP810,000 per annum.
-- Pension: Anglo American will make an annual contribution of
15% of basic salary, in line with the typical contribution rate for
the company's UK workforce.
-- Annual bonus: a maximum annual bonus of 210% of basic salary,
pro-rated as appropriate. Half of any bonus earned will be deferred
into shares, with one third vesting after two years and two thirds
after three years.
-- Long Term Incentive Plan (LTIP) - an annual award under the
Long-Term Incentive Plan of 350% of basic salary vesting after
three years, to the extent that stretching performance conditions
have been satisfied, and released after a further two-year holding
period, with the first award to be made in 2024.
-- Malus and clawback provisions apply to the annual bonus and LTIP.
-- Compensation for incentives forfeited from his previous
employer - the value, vesting dates, performance requirements,
holding periods and other applicable terms and conditions of these
awards will reflect those of the original awards, as required by
the remuneration policy. Full details of these awards will be
disclosed at the appropriate time.
-- Shareholding guidelines:
o to accumulate a shareholding in Anglo American to the value of
three times basic salary within five years of appointment;
o to maintain a holding of Anglo American shares for a period of
two years after his employment ceases. The number of shares will be
the lower of the in-post requirement at the time of cessation or
the actual shareholding at cessation.
The financial arrangements relating to Stephen Pearce's
retirement from Anglo American's Board and from Anglo American will
be finalised and disclosed in due course. Full details of these and
John Heasley's remuneration arrangements will be set out in the
2023 Directors' Remuneration Report.
This announcement satisfies Anglo American's disclosure
obligations in accordance with Listing Rule 9.6.11R. A further
announcement relating to John Heasley's date of joining Anglo
American's Board will be made in due course. There are no
additional details to disclose under Listing Rule 9.6.13R in
respect of the appointment of John Heasley.
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Emma Waterworth
marcelo.esquivel@angloamerican.com Emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0) 20 7968
8574
Rebecca Meeson-Frizelle
Rebecca.meeson-frizelle@angloamerican.com Juliet Newth
Tel: + 44 (0)20 7968 1374 Juliet.newth@angloamerican.com
Tel: +44 (0)20 7968 8830
South Africa
Nevashnee Naicker Michelle Jarman
nevashnee.naicker@angloamerican.com michelle.jarman@angloamerican.com
Tel: +27 (0)11 638 3189 Tel: +44 (0)20 7968 1494
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Notes to editors:
Anglo American is a leading global mining company and our
products are the essential ingredients in almost every aspect of
modern life. Our portfolio of world-class competitive operations,
with a broad range of future development options, provides many of
the future-enabling metals and minerals for a cleaner, greener,
more sustainable world and that meet the fast growing every day
demands of billions of consumers. With our people at the heart of
our business, we use innovative practices and the latest
technologies to discover new resources and to mine, process, move
and market our products to our customers - safely and
sustainably.
As a responsible producer of copper, nickel, platinum group
metals, diamonds (through De Beers), and premium quality iron ore
and steelmaking coal - with crop nutrients in development - we are
committed to being carbon neutral across our operations by 2040.
More broadly, our Sustainable Mining Plan commits us to a series of
stretching goals to ensure we work towards a healthy environment,
creating thriving communities and building trust as a corporate
leader. We work together with our business partners and diverse
stakeholders to unlock enduring value from precious natural
resources for the benefit of the communities and countries in which
we operate, for society as a whole, and for our shareholders. Anglo
American is re-imagining mining to improve people's lives.
www.angloamerican.com
Forward-looking statements:
This document includes forward-looking statements. All
statements other than statements of historical facts included in
this document, including, without limitation, those regarding Anglo
American's financial position, business, acquisition and divestment
strategy, dividend policy, plans and objectives of management for
future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore
Reserve and Mineral Resource positions) and environmental, social
and corporate governance goals and aspirations, are forward-looking
statements. By their nature, such forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
Anglo American or industry results to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking statements.
Such forward-looking statements are based on numerous
assumptions regarding Anglo American's present and future business
strategies and the environment in which Anglo American will operate
in the future. Important factors that could cause Anglo American's
actual results, performance or achievements to differ materially
from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global
demand and commodity market prices, mineral resource exploration
and development capabilities, recovery rates and other operational
capabilities, safety, health or environmental incidents, the
effects of global pandemics and outbreaks of infectious diseases,
the outcome of litigation or regulatory proceedings, the
availability of mining and processing equipment, the ability to
produce and transport products profitably, the availability of
transport infrastructure, the impact of foreign currency exchange
rates on market prices and operating costs, the availability of
sufficient credit, the effects of inflation, political uncertainty
and economic conditions in relevant areas of the world, the actions
of competitors, activities by courts, regulators and governmental
authorities such as in relation to permitting or forcing closure of
mines and ceasing of operations or maintenance of Anglo American's
assets and changes in taxation or safety, health, environmental or
other types of regulation in the countries where Anglo American
operates, conflicts over land and resource ownership rights and
such other risk factors identified in Anglo American's most recent
Annual Report. Forward-looking statements should, therefore, be
construed in light of such risk factors and undue reliance should
not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo
American expressly disclaims any obligation or undertaking (except
as required by applicable law, the City Code on Takeovers and
Mergers, the UK Listing Rules, the Disclosure and Transparency
Rules of the Financial Conduct Authority, the Listings Requirements
of the securities exchange of the JSE Limited in South Africa, the
SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release
publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Anglo American's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
Nothing in this document should be interpreted to mean that
future earnings per share of Anglo American will necessarily match
or exceed its historical published earnings per share. Certain
statistical and other information about Anglo American included in
this document is sourced from publicly available third party
sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily
correspond to the views held by Anglo American and Anglo American
expressly disclaims any responsibility for, or liability in respect
of, such information.
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