Anglo American's new chairman is set to face shareholder questions

 
Courtney Goldsmith
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Stuart Chambers will start his role as chairman on 1 November (Source: Getty)

The new chairman of Anglo American will face shareholder calls for clarity on the company's direction when he starts the job tomorrow.

Anglo is seen as a mining firm that is more vulnerable to takeover bids, particularly because of its focus on South Africa, where the mining industry faces unrest among unions, disputes with the government and older mines.

Top investor sources told Reuters chief executive Mark Cutifani would have to set out a vision for what's going to happen next in South Africa and elsewhere.

Read more: Platinum loses its shine as Anglo American lowers its forecast

“What investors want to see is clarity on exactly what Anglo’s strategy is,” an unnamed shareholder said.

“The longer-term investment case is that Anglo becomes a takeover target.”

Incoming chairman Stuart Chambers has a history of bringing in buyers for the companies he leads. As the chairman of technology firm ARM, Chambers helped secure a takeover deal from Japan's SoftBank for £24.3bn, and as chief executive of Pilkington Glass, Chambers helped arrange a sale to Japan's Nippon Sheet Glass.

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