Johannesburg, South Africa — 01 August 2013 – As the wind fell out of the sails of economic recovery in 2012, and serious storms rocked the boat of major miners, a few mining CEOs were swept overboard in the process.
Cynthia Carroll (Anglo American), Aaron Regent (Barrick Gold), Robert Friedland (Ivanhoe), Tom Albanese (Rio Tinto), Marcelo Awad (Antofagasta Minerals), Diego Hernandez (Codelco) and Mick Davis (Xstrata PLC) were only some of the executives who left their companies, either because they chose to or because of shareholders’ pressure, reports Fin24.
But their names will be mentioned a lot more in the coming months, reports The Wall Street Journal, saying at least two of them, Regent and Davis, have already established investor funds and are looking for financers.
They seem to have it all, said the newspaper: expertise, contacts, and quite a few years before starting to think about retirement. The timing may not be right, however, as most mining companies are in the process of stripping billions of dollars in costs, which includes cutting executive pay.
Source: mining.com. For more information, click here.