Anglo American CEO on Interims and Driving Value Strategy
LONDON, July 26, 2013 /PRNewswire/ --
Mark Cutifani, new CEO of Anglo American, outlines the mining Group's 2013 interim performance, senior management changes and his Driving Value strategy. He is supported by FD René Médori on cash flow, dividend and CapEx.
Cutifani unveils his plan of creating value over growth and his "absolute manic focus on returns" to shareholders. He also sets out new targets for the business: "Our return on capital employed is 8%. Not good enough. For me, break even is 15%. We've got to get ourselves north of 15%. That's where I'll be focused with the team over the next two to three years, lots of work to be done but we'll get there." He announces structural changes within the base metal businesses and the appointment of a Technical Director "to consolidate and support the changes we need in the business."
The video interview is available now on http://video.merchantcantos.com.
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SOURCE Anglo American