Nicky Oppenheimer will retire as a non-executive director of Anglo American after 37 years on the board, the company announced on Friday.
“Mr Oppenheimer will step down from the board at the conclusion of Anglo American’s annual general meeting to be held on April 21 2011,” the company said in a statement.
“On behalf of the board, I would like to express our thanks to Nicky for his significant contribution to Anglo American over so many years,” said Sir John Parker, chairperson of Anglo American.
“Anglo American’s origins in South Africa more than 90 years ago lay in the hands of Nicky’s grandfather and that legacy lives on.”
He said they would miss Oppenheimer’s “wise counsel, sound business sense and integrity”.
Oppenheimer said the time was right to stand aside and pass on the baton.
“Anglo American has been in the psyche of every member of my family since the company was founded nearly a century ago.
“During my 40 years with Anglo, first as an employee and then as a director, I have been lucky enough to participate in many transformational decisions.
“However there comes a time when it is right to stand aside and allow others to carry the baton. For me that time is now.”
Anglo American is one of the world’s largest mining companies. It operates in Africa, Europe, South and North America, Australia and Asia. — Sapa