Five questions answered on Cynthia Carroll

CEO steps down.

 

 

Cynthia Carroll today announced she would step down from mining giant Anglo American. We answer five questions on Carroll’s resignation.

Why has Carroll stepped down at this time?

 

Carroll’s official line is that she felt ‘the time was right’. 

 

However, it is believed Carroll has stepped down because of mounting pressure from shareholders who are said to have lost confidence in her strategy and leadership after a sharp drop in profits. 

 

On July 27 Anglo announced that first-half earnings had fallen 46pc to $3.7bn (£2.4bn) which triggered a fall of 3.6pc in the share price.

 

Shareholders are believed to have made the unusual move of going over the head of the chairman of Anglo, Sir John Parker, who had previously rebuffed their concerns, and contacted David Challen, the company's senior independent director, to demand the chairman be overruled and a new Chief Executive found.

 

What has Carroll said? 

 

"I am extremely proud of everything we have achieved during my period as chief executive and I will always retain enormous admiration and affection for this great company and its outstanding people," she said. 

"It is a very difficult decision to leave, but next year I will be entering my seventh year as chief executive and I feel that the time will be right to hand over to a successor who can build further on the strong foundations we have created."

 

What has Anglo said? 

 

"Cynthia's leadership has had a transformational impact on Anglo American. She developed a clear strategy, based on a highly attractive range of core commodities, and created a strong and unified culture and a streamlined organisation with a focus on operational performance."

 

"Her legacy will include, among many other things, a step change improvement in safety, sustainability and the quality of our dialogue with governments, communities and other stakeholders," he added.

 

When will Carroll leave her post? 

 

When a successor has been appointed and a handover has taken place. 

 

What does this mean for the border spectrum of business? 

 

That there are only two women left in charge of Britain’s biggest companies; these are Angela Ahrendts at Burberry and Alison Cooper of Imperial Tobacco. Anglo will now also be looking for a Chief Executive to replace Carroll.

Anglo American is under pressure from shareholders. Photograph: Getty Images.

Heidi Vella is a features writer for Nridigital.com

Getty
Show Hide image

Donald Trump vs Barack Obama: How the inauguration speeches compared

We compared the two presidents on trade, foreign affairs and climate change – so you (really, really) don't have to.

After watching Donald Trump's inaugural address, what better way to get rid of the last few dregs of hope than by comparing what he said with Barack Obama's address from 2009? 

Both thanked the previous President, with Trump calling the Obamas "magnificent", and pledged to reform Washington, but the comparison ended there. 

Here is what each of them said: 

On American jobs

Obama:

The state of our economy calls for action, bold and swift.  And we will act, not only to create new jobs, but to lay a new foundation for growth.  We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.  We'll restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost.  We will harness the sun and the winds and the soil to fuel our cars and run our factories.  And we will transform our schools and colleges and universities to meet the demands of a new age.

Trump:

For many decades we've enriched foreign industry at the expense of American industry, subsidized the armies of other countries while allowing for the very sad depletion of our military.

One by one, the factories shuttered and left our shores with not even a thought about the millions and millions of American workers that were left behind.

Obama had a plan for growth. Trump just blames the rest of the world...

On global warming

Obama:

With old friends and former foes, we'll work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.

Trump:

On the Middle East:

Obama:

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West, know that your people will judge you on what you can build, not what you destroy. 

Trump:

We will re-enforce old alliances and form new ones and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the earth.

On “greatness”

Obama:

In reaffirming the greatness of our nation we understand that greatness is never a given. It must be earned.

Trump:

America will start winning again, winning like never before.

 

On trade

Obama:

This is the journey we continue today.  We remain the most prosperous, powerful nation on Earth.  Our workers are no less productive than when this crisis began.  Our minds are no less inventive, our goods and services no less needed than they were last week, or last month, or last year.  Our capacity remains undiminished.  

Trump:

We must protect our borders from the ravages of other countries making our product, stealing our companies and destroying our jobs.

Protection will lead to great prosperity and strength. I will fight for you with every breath in my body, and I will never ever let you down.

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland