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The CEO of diversified mining giant Anglo American (LSE:AAL) Cynthia Carroll has been appointed chairman of venerable diamond miner De Beers.
The appointment arrives swift on the heels of Anglo American’s announcement in August of the acquisition of a 40% share in De Beers from the Oppenheimer family, raising its total stake to 85%.
Anglo American paid a consideration in cash of $5.2 billion under the terms of an agreement from November 2011. Both companies share a long-standing relationship, with Anglo America first becoming a shareholder in 1926.
According to a De Beers statement Cynthia Carroll will be joined on the De Beers board by two other senior managers from Anglo, Brian Beamish, group director of mining and technology, and Peter Whitcutt, the group director of strategy and business development.
De Beers CEO Philippe Mellier heralded the move, saying that the diamond miner is “fortunate to have a chairman of Cynthia’s calibre.”
All three appointments to the board take effect immediately.
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