New Anglo American CEO named

Anglo American PLC
24 October 2006


News Release


24 October 2006




                Anglo American names Cynthia Carroll as new CEO



As previously announced, Tony Trahar intends to retire as Chief Executive
Officer of Anglo American plc. Cynthia Carroll, currently President Alcan
Primary Metal Group, will join the Anglo American Board in mid January 2007 and
will succeed Tony Trahar as Chief Executive Officer on 1 March.  Tony Trahar
will step down from the board at the Annual General Meeting in April.



As President and Chief Executive Officer of Alcan's Primary Metal Group, Cynthia
Carroll's responsibilities include all of Alcan's primary metal facilities,
research and development, technology and power generation with 18,000 employees
operating in 20 countries around the world. The Primary Metal Group today
accounts for approximately $12 billion in turnover and 75% of Alcan's earnings.



Sir Mark Moody-Stuart, Chairman of Anglo American plc commented: "Cynthia
Carroll has a very strong track record of improving operational performance,
transforming culture, including improving safety performance, and of integrating
and realising synergies from newly acquired assets. She has global experience of
project management and of overseeing the development and commercialisation of
leading-edge technologies. The Board have been impressed by her clear leadership
and communication skills, her highly relevant hands-on operational experience
and of her record of working with governments and other key stakeholders."



"It's an honour to take the helm at Anglo American," Cynthia Carroll said of her
appointment. "Anglo American has a unique collection of assets, skilled and
dedicated people, financial and technical strengths, and a strong underpinning
of values and sense of responsibility. A great deal has been achieved in recent
years and the company is on course to realise the next stage of its strategy of
becoming a focused mining group and global leader in the metals and mining
industry. It has an impressive project pipeline and enormous potential for
growth and value creation. I look forward to building on this work and am
committed to working with Anglo's many talented and committed individuals around
the world to realise the Company's full potential."



Tony Trahar said "I look forward to welcoming Cynthia to Anglo American and to
working with her during the handover period. I wish her every success."



Cynthia Carroll started her career with Alcan in 1988 in the Rolled Products
Group.  In 1991 she became the General Manager of Alcan's U.S. Foil Products
packaging business. She next served in Ireland as the Managing Director of
Alcan's Aughinish Alumina subsidiary. From 1998 to 2002 she was President of
Alcan's Bauxite, Alumina & Speciality Chemicals Group. Since 2002 Cynthia
Carroll has worked to substantially reposition Alcan in the aluminium industry
while simultaneously reducing costs, resulting in Alcan Primary Metal now
achieving the highest profitability and returns in the history of the company.
During this time she led the successful integration of Pechiney's primary metals
business; developed a project pipeline of over $10 billion through the expansion
of existing businesses, acquisitions and the development of new facilities in
South Africa, China, Canada, Oman, and France; and achieved an over 80%
improvement in Lost Time Accidents (LTAs). Prior to joining Alcan, Cynthia
Carroll was a Senior Petroleum Geologist for Amoco in North America.



Cynthia Carroll is 49 and is an American citizen. She has a Masters of Science
degree from the University of Kansas and an MBA from Harvard University.



Cynthia Carroll is currently a Director of Sara Lee Corporation, a Director of
the American Aluminium Association, and a Director of the International
Aluminium Institute.





For further information:



London:

Nick von Schirnding

Tel: [phone]



Edward Bickham

Tel: [phone]



South Africa:

Daniel Ngwepe

Tel: [phone]





View interviews with Sir Mark Moody-Stuart and Cynthia Carroll:

The interviews in video and text are available at: www.angloamerican.co.uk and
www.cantos.com





Pictures:

High resolution images are available at: www.angloamerican.co.uk





Notes to editors



Cynthia Carroll has spent the last 18 years in the aluminium industry with
Alcan. Her responsibilities have embraced mergers and acquisitions,
divestitures, joint ventures, plant management, research and technology, energy,
finance, marketing and commercial development, human resources and provincial
and international government relations. Over this time she resided in the United
States, Ireland, and Canada.



Prior to joining Alcan, Cynthia Carroll spent six years in gas and oil
exploration, working in Colorado, Alaska, Wyoming, Utah, and Montana.





Career Profile:

  • January 2002 - Present: President and Chief Executive Officer, Alcan
    Primary Metal



  • October 1998 - December 2001:  President, Alcan Bauxite, Alumina and
    Specialty Chemicals



  • January 1996 to October 1998: Managing Director, Aughinish Alumina Limited



  • October 1991 to December 1995:  Vice President and General Manager, Alcan
    Foil Products



  • 1989 to 1991:  Business Analyst, Alcan Rolled Products Company



  • 1988:  Business Analyst, Assistant to the President, Alcan Aluminum
    Corporation



  • 1982 to 1987:  Senior Petroleum Geologist, Amoco Production Company



•         1987-1989:  Harvard University, Boston, Massachusetts, (MBA)



•         1979-1982:  University of Kansas, Lawrence, Kansas, (Master of
Science, Geology)



•         1974-1978:  Skidmore College, Saratoga Springs, New York, New York,
(Bachelor of Science, Geology)





Contractual arrangements:

The appointment of Cynthia Carroll as an Executive Director of Anglo American
will take effect in mid January 2007 and she will become Chief Executive on 1
March 2007.



Salary

Basic salary of £900,000 per annum



Discretionary performance related bonus

Maximum of 150% of base salary per annum, half deferred into forfeitable bonus
shares to be held for three years.  Match of up to 75% of bonus shares subject
to meeting EPS growth targets over three years



Long term incentive plan (Performance share plan)

A maximum annual award of 175% of base salary per annum.  The plan is subject
50% to a TSR metric and 50% to a ROCE metric over a three year vesting period,
with no re-testing.



Benefits

Normal executive director benefits including defined contribution pension, car
allowance, medical and life insurance.



Notice Period and mitigation

An initial notice period of 24 months, reducing to 12 months after the initial
12 month period.  The contract includes a duty of mitigation on any termination
payment.











Buy out arrangements

Anglo American will compensate Cynthia Carroll for incentives forfeited at
Alcan. This will be paid in a combination of an initial cash payment and
forfeitable share awards, realisable over three years.



Executive shareholding target

A shareholding in Anglo American to the value of two times base salary within
five years of appointment.





Anglo American plc is a global leader in mining with a unique portfolio of world
class assets in attractive markets spread across the world covering platinum,
diamonds, coal, ferrous and base metals, industrial minerals, paper and
packaging and gold underpinned by considerable financial strength and technical
expertise.



Anglo American has excellent growth potential supported by a $6.2 billion
approved project pipeline.



The Group is geographically diverse, with operations in Africa, Europe, North
and South America, Australia and Asia. Since listing in 1999, Anglo American has
completed a significant number of company transforming transactions including
acquisitions of $15 billion and disposals of $9.7 billion and the Group has a
well defined strategy to increase focus on its core mining assets, drive
internal efficiencies and deliver higher returns. Anglo American has a strong
commitment to safety and the sustainable development of the communities where it
operates.



For further information please visit: www.angloamerican.co.uk








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            The company news service from the London Stock Exchange         BRBDGGUDGGLX