Anglo appoints new FD

JOHANNESBURG (miningweekly.com) – Diversified mining group Anglo American has appointed Stephen Pearce FD. He will succeed outgoing FD René Médori.

Pearce will join Anglo’s group management committee on January 30, before taking over as FD on April 24.

Pearce has been CFO of Australia-based iron-ore producer Fortescue since 2010, playing a significant role in steering the company through a period of major investment and strong growth.

"Pearce brings proven financial and commercial experience gained across the extractive and related industries. We look forward to welcoming him to Anglo American in January 2017,” says Anglo CEO Mark Cutifani.

Meanwhile, Fortescue has started a recruitment process, considering internal and external candidates, for the role of CFO.

Fortescue chairperson Andrew Forrest congratulated Pearce on his new position.

"Given the great progress on cost and debt reduction, and Stephen advising his keenness to pursue an internal operations and finance role, this is an appropriate time for Stephen to move out of Fortescue to pursue those objectives. He leaves with my best wishes and as a hallmark of every good leader, has a highly capable team in place to flawlessly continue the work of increasing operational competitiveness, reducing cost and repaying debt."

The iron-ore miner also announced the appointment of Rio Tinto executive Greg Lilleyman as director of operations. He has 28 years of experience in the mining sector, most recently as president of Rio Tinto's Pilbara operations and group executive of technology and innovation.

Lilleyman joins Fortescue on January 1.