Chambers will join the board of Anglo American as a non-executive director and chairman designate on 1 September 2017 and will become chairman on 1 November 2017.
Chambers succeeds Sir John Parker who announced in February 2017 his intention to step down during the course of the year, after serving eight years as chairman.
Parker will step down from the board on 31 October 2017.
Chambers was chairman of ARM Holdings and of Rexam until 2016.
In recent years, he has served as a non-executive director on the boards of Smiths Group and Tesco, amongst others, following an executive career at Nippon Sheet Glass (formerly Pilkington), Mars Corporation and Shell, where he began his career as a chemical engineer.
“I am delighted to welcome Stuart to Anglo American as my successor,” states Parker.
“Stuart’s breadth of global executive experience, in addition to chairing two FTSE100 companies and serving on the board of several other international companies across the industrial, logistics and consumer sectors over the last 15 years, stands him in excellent stead,” he adds.
“On behalf of the board, I thank Sir Philip Hampton for his leadership of the process to identify and appoint Stuart to the role and I wish Stuart and the entire board every success.”
“It is a great privilege to be appointed chairman of a company as iconic as Anglo American, in this its centenary year,” states Chambers.
“Anglo American has emerged from the commodity price downturn more resilient and with a renewed sense of purpose, both strategically and in terms of the role it plays in society,” he continues.
“I am really looking forward to working with the board and the executive team led by Mark Cutifani to ensure that Anglo American continues to go from strength to strength.”
“I am looking forward to working with Stuart as we continue our rebuilding of Anglo American,” says Anglo American CEO, Mark Cutifani.
“Stuart has led and chaired major global businesses with many parallels to our organisation, in areas such as manufacturing process and technology led innovation,” he continues.
“We have materially restored Anglo American’s balance sheet and transformed the business performance over the last three years, and our task now is to unlock the very considerable value that we can see from our world-class asset base,” he adds.