Anglo American senior leadership changes following Tony O’Neill’s decision to retire

Anglo American plc (“Anglo American”) announces that Tony O’Neill, Technical Director, has decided to retire and will step down from his role and from the Group Management Committee on 31 December 2022, after more than nine years. Mr O’Neill will also step down from the Board of Anglo American on the same date.

Duncan Wanblad, Chief Executive of Anglo American, said: “We thank Tony O’Neill for his enormous contribution to Anglo American. Tony’s determined vision for a modern and more sustainable future for the mining industry that embraces technology to transform safety, productivity and our environmental footprint has shown us what’s possible. Given how critical the products of mining are to people’s everyday lives and to the urgent energy transition, it is our duty to supply those products responsibly. Tony has set us squarely on that path to fundamentally change for the better how our stakeholders experience mining.”

Stuart Chambers, Chairman of Anglo American, added: “Tony has been a leading figure in the mining industry for many years, articulating the need for change in many of the industrial processes that have prevailed for decades and longer. His tenacity has opened the door to a host of technologies and digital applications that are increasingly relevant to sustain mining’s social licence to operate and improve the investment case for accessing orebodies that are vital for future supply. On behalf of the Board, we wish Tony a happy and long retirement.”

Tony O’Neill commented: “I have felt so privileged to lead such an inspiring team that has shared in my overwhelming desire to change the future of mining for the better – for people and our planet. I believe that Anglo American is well on the way to realising the full value that is inherent in both the portfolio and the capabilities we have built, as well as in the opportunities to access and develop new resources to meet the increasingly apparent demand trends. I thank my fellow GMC members, the Board and all my colleagues across Anglo American for everything we have achieved together.”

Following Mr O’Neill’s decision, the role will be divided into two to facilitate the next phase of prioritisation for Anglo American’s technical disciplines to best support business performance: Matt Daley is appointed as Group Director – Technical, while the process to appoint the Group Director – Projects & Development is well advanced, with an announcement to be made in due course.

Mr Daley will take up his new role as Group Director – Technical and join the Group Management Committee of Anglo American with effect from 1 January 2023.

Mr Wanblad added: “I congratulate Matt on his appointment, responsible for driving best practice levels of operational and technical excellence that will help us deliver safe and stable production from our mineral assets – and on a repeatable basis. As Group Head of Mining since 2017, Matt has led the transformation of many of our in-mine activities, while demonstrating the potential offered by achieving new benchmarks in equipment performance. Now we must embed that mindset consistently across our sites, with safety and reliability our primary focus.”

Matt Daley said: “We have shown what we can achieve in our mining operations through a deliberate and an innovative mindset to set new performance benchmarks. I am excited to take on this new role and to drive that momentum across all our operational activities, from discovery to mining and processing. I believe that we can deliver further productivity improvements across the board, consistently and above all safely.”

Remuneration arrangements

Tony O’Neill will step down from his role as technical director and from the Board on 31 December 2022 and he has agreed to be available to ensure a smooth handover until retiring on 30 June 2023. On his retirement, Mr O’Neill will receive good leaver treatment in respect of outstanding share awards. His outstanding LTIP awards will be pro-rated in respect of time served to 30 June 2023 and will vest at the normal time, to the extent that the performance conditions have been satisfied. These arrangements are in line with Anglo American’s current remuneration policy and practice. Mr O’Neill will continue to receive his normal salary, pension and benefits up to 30 June 2023. He will not receive an annual bonus or LTIP award for 2023. Following his retirement, Mr O’Neill will be expected to maintain a holding of Anglo American shares of three times his salary on cessation, for a period of two years.