Listed Mining Companies
‘Cut Costs' appears to be the title of the tune that new Anglo American chairperson Sir John Parker is impressing upon the Xstrata-pursued mining company. Anglo CEO Cynthia Carroll appears to be dancing to the new tune with dutiful alacrity. Among the sacrificial lambs are Ian Cockerill, Philip Baum and Russell King, forming part of a 25% slashing of overhead staff. Carroll hopes this will not only save the company $120-million, but also create a "more effective, simple and efficient" organisation, with "greater clarity over decision-making" and "greater speed of implementation". Cockerill gets the chop after a short 16-month spell as CEO of Anglo's coal business
