Parker to be Anglo chairman

<div>MINER Anglo American will name City heavyweight Sir John Parker as its new chairman today, as the group attempts to calm investors after it rejected a bid from rival Xstrata.<br /><br />Parker, the 67-year old chairman of utilities giant National Grid, is one of the most respected boardroom figures in the UK . He served on the Court of the Bank of England until a recent shake-up at the central bank.<br /><br />The appointment is likely to anger some members of the South African government, which has been pushing for a black chairman for the firm &ndash; which is 35 per cent owned by South African shareholders &ndash; as proof of its commitment to helping the country develop and tranform its economy.<br /><br />Anglo&rsquo;s decision to opt&nbsp;for an established UK industrialist for the top role comes at a time of weakness &ndash; it has underperformed rivals during the recent commodities boom.<br /><br />The group, which was founded in South Africa, rejected a proposal for a &ldquo;merger of equals&rdquo; from Xstrata last month, but the Swiss group continues to push for the deal to go ahead.<br /><br />Sir John will replace Sir Mark Moody Stuart, who is retiring.</div>