REG - Anglo American PLC Weir Group PLC - Appointment of John Heasley as Finance Director

Anglo AmericanAnnouncement

27/07/2023 07:15

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RNS Number : 3274H  Anglo American PLC  27 July 2023

 27 July 2023
 Anglo American appoints John Heasley as Finance Director

Anglo American plc ("Anglo American") announces the appointment of John
Heasley as Finance Director, following the May 2023 announcement of Stephen
Pearce's decision to retire. Mr Heasley is expected to join Anglo American and
its Executive Leadership Team by no later than the end of 2023, prior to
joining the Board as an executive director and taking over as Finance
Director, thereby enabling a smooth transition through the year-end financial
reporting process.

 

John Heasley has served as the CFO of The Weir Group PLC, the FTSE100 listed
global engineering company, since 2016. As CFO, John has played a significant
role in Weir's transformation to focus on mining and the strategic delivery of
technologies that improve productivity and sustainability in the mining
industry, as well as driving performance improvement programmes.

 

Duncan Wanblad, Chief Executive of Anglo American, said: "I am delighted that
we will be welcoming John Heasley to Anglo American as Finance Director. John
brings proven financial, strategic and commercial expertise, coupled with
hands-on operational experience of supporting sustainable mining through
technology as a major supplier to the mining industry over the last 15 years.
We are also very grateful indeed to Stephen Pearce for his continued
commitment as Finance Director until he hands over to John, focusing on
ensuring we deliver our cost discipline and capital expenditure commitments,
while ensuring a smooth transition."

 

John Heasley said of his appointment: "I'm proud and excited to be appointed
Finance Director of Anglo American, one of the world's stand-out mining
companies. As CFO of a major supplier to the mining industry, I have for many
years been passionate about the role of technology, innovation and operational
excellence in helping to fundamentally change the future of mining. The metals
and minerals from mining have never been more essential and our focus must
continue to be on getting those products to market in the most cost-effective
and responsible way."

 

Stuart Chambers, Chairman of Anglo American, said: "John Heasley brings great
breadth of experience to the role of Finance Director and we look forward to
welcoming him onto our Board.

 

"I would also like to thank Stephen Pearce, on behalf of the Board, for his
enduring contribution to Anglo American and his steady hand as Finance
Director over seven years. We wish Stephen well in his retirement."

 

Stephen Pearce commented: "It's been a real privilege to have served as
Finance Director as we transformed the quality, resilience and future
prospects of Anglo American. I am really proud of what we have achieved and in
particular the role the Finance team has played and the transformation of our
Finance capabilities to support Anglo American as it moves into its next phase
of value delivery."

 

 

 

 

 

 

 

 

Notes:

 

John Heasley is the Chief Financial Officer and an executive director of The
Weir Group PLC, the FTSE100 listed global engineering company providing
engineering technologies to the global mining industry, a role he has held
since 2016. John joined Weir in 2008 as Group Financial Controller and also
served as Interim Group Finance Director in 2009-2010. He has held a number of
senior operational and financial roles across Weir being a member of the Group
Executive since 2014, firstly as Divisional President of the Weir Flow Control
division before becoming Group CFO. Prior to joining Weir, John served as
Group Financial Controller of ScottishPower plc, the former FTSE 30 Power
Utility, following an early career with professional services firms PwC and
Arthur Andersen in audit and mergers and acquisitions roles.

 

John holds a BA in Accounting and Economics from the University of
Strathclyde, Glasgow, UK and is a member of the Institute of Chartered
Accountants of Scotland. John is also a non-executive director and Honorary
Treasurer of the Royal Scottish National Orchestra.

 

 

John Heasley will be subject to a standard Anglo American plc employment
contract which includes a notice period of 12 months. John Heasley's
remuneration package will comprise a basic salary and variable incentive
arrangements which are in line with Anglo American's recently approved
remuneration policy, including being weighted towards longer term performance.

 

The key elements of the remuneration package are as follows:

 

·      Basic salary: £810,000 per annum.

·      Pension: Anglo American will make an annual contribution of 15%
of basic salary, in line with the typical contribution rate for the company's
UK workforce.

·      Annual bonus: a maximum annual bonus of 210% of basic salary,
pro-rated as appropriate. Half of any bonus earned will be deferred into
shares, with one third vesting after two years and two thirds after three
years.

·      Long Term Incentive Plan (LTIP) - an annual award under the
Long-Term Incentive Plan of 350% of basic salary vesting after three years, to
the extent that stretching performance conditions have been satisfied, and
released after a further two-year holding period, with the first award to be
made in 2024.

·      Malus and clawback provisions apply to the annual bonus and LTIP.

·      Compensation for incentives forfeited from his previous employer
- the value, vesting dates, performance requirements, holding periods and
other applicable terms and conditions of these awards will reflect those of
the original awards, as required by the remuneration policy. Full details of
these awards will be disclosed at the appropriate time.

·      Shareholding guidelines:

o  to accumulate a shareholding in Anglo American to the value of three times
basic salary within five years of appointment;

o  to maintain a holding of Anglo American shares for a period of two years
after his employment ceases. The number of shares will be the lower of the
in-post requirement at the time of cessation or the actual shareholding at
cessation.

 

The financial arrangements relating to Stephen Pearce's retirement from Anglo
American's Board and from Anglo American will be finalised and disclosed in
due course. Full details of these and John Heasley's remuneration arrangements
will be set out in the 2023 Directors' Remuneration Report.

 

 

This announcement satisfies Anglo American's disclosure obligations in
accordance with Listing Rule 9.6.11R. A further announcement relating to John
Heasley's date of joining Anglo American's Board will be made in due course.
There are no additional details to disclose under Listing Rule 9.6.13R in
respect of the appointment of John Heasley.

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Juliet Newth

                                                                                  Juliet.newth@angloamerican.com (mailto:Juliet.newth@angloamerican.com)
 Rebecca Meeson-Frizelle

                                                                                  Tel: +44 (0)20 7968 8830
 Rebecca.meeson-frizelle@angloamerican.com

 (mailto:Rebecca.meeson-frizelle@angloamerican.com)

 Tel: + 44 (0)20 7968 1374                                                          Michelle Jarman

                                                                                    michelle.jarman@angloamerican.com (mailto:michelle.jarman@angloamerican.com)

 South Africa

                                                                                  Tel: +44 (0)20 7968 1494
 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

 

Notes to editors:

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of copper, nickel, platinum group metals, diamonds
(through De Beers), and premium quality iron ore and steelmaking coal - with
crop nutrients in development - we are committed to being carbon neutral
across our operations by 2040. More broadly, our Sustainable Mining Plan
commits us to a series of stretching goals to ensure we work towards a healthy
environment, creating thriving communities and building trust as a corporate
leader. We work together with our business partners and diverse stakeholders
to unlock enduring value from precious natural resources for the benefit of
the communities and countries in which we operate, for society as a whole, and
for our shareholders. Anglo American is re-imagining mining to improve
people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

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