LONDON Aug 13 Anglo American's chief
executive, Cynthia Carroll, is under pressure to step down from
shareholders who have demanded an immediate change of
management, the Telegraph reported on Monday.
Several of the miner's biggest institutional investors have
contacted Sir John Parker, the chairman of Anglo American, to
ask him to start the search for a new chief executive because
they have lost confidence in her strategy and leadership
following disappointing results, the newspaper said.
The shareholders are cited as saying their complaints have
been rebuffed by the company's chairman in recent weeks.
"The company is suffering from bad execution, a poor
strategy, and a crisis of confidence in the leadership. We
haven't been happy for a while but the last set of results was
the 'coup de grace'," one of Anglo's 10 biggest owners is cited
"We want to get the ball rolling and a fresh management as
soon as possible. These things take a while and Anglo American
is vulnerable - if Glencore got its act together Anglo American
is a sitting duck," another unidentified investor said.
Anglo American could not be reached for immediate comment.