Anglo American plc appointed Duncan Wanblad as chief executive, effective on April 19, 2022, to replace Mark Cutifani who will retire and step down from the board after nine years in the role.

“Duncan Wanblad is the standout and natural successor to Mark Cutifani, bringing his 30 years of international mining experience and deep understanding of Anglo American, its culture and its context,” Chairman Stuart Chambers said. “In both executive and non-executive roles, spanning most of Anglo American’s businesses, Duncan has been integral to shaping the strong competitive position of the company today.”

Wanblad was named group director of strategy and business development after being base metals business leader and business development director since 2013.

“Having started my career underground as a junior engineer, I have never lost sight of what it takes to produce the metals and minerals that are ever more vital to support our life on this planet,” Wanblad said. “Our responsibility to do so safely and sustainably, including meeting our employees’ and stakeholders’ expectations of us, has never been greater. Through the way we work, the technologies we are deploying to drive us toward our sustainability goals, and the breadth of opportunities I can see, we are determined to live up to that promise.”

Cutifani will retire at the company’s annual general meeting in April 2022 and remain on the board of directors until June 30, 2022.

“There has been no greater privilege for me than leading Anglo American and our incredible people,” Cutifani said. “Together, we have transformed our competitive position and led the way toward a very different future for mining – a safer, smarter future that delivers enduring value for all our stakeholders.”

The company spent more than two years searching for a replacement for Cutifani.

Wanbald’s base salary will be 1.25 million pounds ($1.68 million) per year, along with a maximum annual bonus of 210% of the base salary.