UPDATE: Anglo American's Carroll To Be Angloplat Chairwoman

5th Jul 2010 08:16

By Robb M. Stewart Of DOW JONES NEWSWIRES JOHANNESBURG (Dow Jones)--Anglo American PLC (AAL.LN) Chief Executive Officer Cynthia Carroll is to also become chairwoman of the mining company's majority-owned Anglo Platinum Ltd. (AMS.JO) business in South Africa, replacing Tshamano "Fred" Phaswana, who has held the post since 2006. Carroll, who has been Anglo American chief executive and a nonexecutive director of Angloplat since 2007, will assume the role at the platinum company Sept. 1, Angloplat said Monday. At the same time, Valli Moosa will take over as deputy chairman from Tom Wixley, who has resigned but will remain an independent nonexecutive director, it said. Phaswana joined the board of Anglo American South Africa in mid-2002. He is also a director of media company Naspers Ltd. (NPN.JO) and until last year was chairman of state transport company Transnet Ltd. Angloplat is the world's largest producer of platinum in a country that accounts for most of the global supply of the metal. South Africa's government last week retained a target of 26% black ownership by 2014 for mining companies, but added a goal that at least 40% of the board, executive committee and middle and junior management should be made up of people previously disadvantaged under apartheid. The discriminatory apartheid system ended in 1994, but the government has been concerned companies aren't moving quickly enough to bolster the presence of black South Africans in the industry. -By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; [email protected] (END) Dow Jones Newswires July 05, 2010 03:16 ET (07:16 GMT)