Anglo American names new chairman

Mining giant Anglo American, which recently rejected an approach from Swiss-based rival Xstrata, has appointed Sir John Parker as chairman.

Sir John, currently the chairman of National Grid, will join the board immediately and take up his new position on 1 August.

Analysts have said a new chairman might be more inclined to open talks with Xstrata about its proposed merger.

Sir John will replace Sir Mark Moody-Stuart, who is retiring.

Cynthia Carroll, chief executive of Anglo, said Sir John would bring "significant insight and experience" to the board.

"Anglo American has many great strengths, including a portfolio of high quality mining assets, an impressive growth profile, substantial and well advanced efficiency programmes and a unique position in precious commodities," Sir John said in a statement.

He added that he had "deep roots in South Africa, a country I know very well".

The company was formed in South Africa and the majority of its operations are still there.

The South African government had said that it wanted Anglo to appoint a black South African as chairman.

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