views

Anglo American snaps up Hampton to boost board

MINING company Anglo American yesterday confirmed the appointment of RBS chairman Sir Philip Hampton to the board.<br /><br />Sir Philip joins as non-executive director in the latest of a series of senior changes at the precious metals group. Seen as a heavyweight figure in the City, Sir Philip was previously chairman of J Sainsbury, a position he stepped down from at the end of October.Prior to that, he was group finance director of BT and Lloyds TSB.<br /><br />Anglo chairman Sir John Parker, is keen to bolster the management line-up to prove the company can survive as an independent entity following Xstrata&rsquo;s recent decision to walk away from a merger attempt. <br /><br />He said: &ldquo;Sir Philip brings a wealth of financial, strategic and boardroom experience across a number of industries and I look forward to working with him.&rdquo;<br /><br />Last month chief executive Cynthia Carroll unveiled a range of measures to streamline Anglo American&rsquo;s business. As well as putting its Tarmac, Scaw Metals and Coprebas arms up for sale to focus on core mining activities, Anglo is aiming to cut 25 per cent from overhead costs by the end of the year.<br /><br /><strong>SIR PHILIP HAMPTON</strong><br />AGED 56, Sir Philip Hampton is widely respected and packs an enviable CV. <br /><br />Having secured an MBA from the European Institute of Business Administration in 1980, he started his career in the City as an investment banker at blue-blooded institution Lazards, where he specialised in mergers and acquisitions. He moved to become finance director of British Steel in the 1990s.<br /><br />As finance director of British Gas between 1997 and 2000 Hampton was credited with the organisation&rsquo;s successful split into Centrica and BG Group. High-profile roles followed at telecoms giant BT and banking group Lloyds TSB&nbsp;before he took up the position of chairman at retail giant J Sainsbury, a post he held between 2004 and this October. <br /><br />It was at Sainsbury&rsquo;s that Hampton made his name as a safe pair of hands. The supermarket was in a state of turmoil when he arrived, suffering from sliding profits and engulfed in a row over the &pound;2.4m bonus handed out to Sir Peter Davis, the former chief executive and chairman. <br /><br />Hampton restructured the board and brought in a new incentive scheme. As shrewd in his dealings with colleagues as he is reading a balance sheet, Hampton kept senior management onside while overhauling the business.<br /><br />Hampton holds an MA in English Literature from Oxford University. Outside the world of work, he is an enthusiastic sailor and has taken part in the ARC transatlantic yacht race. <br /><br />He was knighted in 2007 for public service following his review into regulatory inspection for the Treasury in 2005.