- Vedanta hires former Anglo American CEO Cynthia Carroll
- Former BHP CEO Marius Kloppers accepts nomination at FLSmidth
Two of the mining industry’s most prominent executives of the past decade have separately taken on new roles, two years after leaving their posts as heads of BHP Billiton Ltd. and Anglo American Plc.
Marius Kloppers, 53, who has largely shied away from the mining industry since departing BHP in 2013, has accepted a board nomination at Danish engineering firm FLSmidth & Co. A/S. The South African presided over BHP during its ultimately unsuccessful bid for rival Rio Tinto Group in 2007.
Separately, Vedanta Resources Plc, the Indian metals and oil producer controlled by billionaire Anil Agarwal, hired former Anglo Chief Executive Officer Cynthia Carroll as an adviser. Carroll, 58, who was CEO of Anglo from 2007 to 2013, will chair the company’s Vedanta Resources Holdings Ltd. unit and advise the group-level chairman Agarwal on “corporate development and significant value-creation opportunities,” it said in a statement Wednesday.
“Having known Cynthia for many years, I look forward to collaborating with her and leveraging her valuable industry expertise,” Vedanta CEO Tom Albanese, who headed the world’s second-biggest mining company Rio Tinto Group at the same time Carroll was running Anglo, said in the statement.
Kloppers, Carroll and Albanese presided over three of the world’s most prominent miners during the global financial crisis, which sparked a rout in commodities. A subsequent rally led them to undertake major acquisitions that resulted in significant writedowns. Carroll quit Anglo after the company lost about $14 billion in value during her tenure and suffered cost blowouts and delays at an $8.8 billion iron-ore project in Brazil.
Carroll, who is also on the boards of BP Plc and Hitachi Ltd., started her career as an exploration geologist before joining Alcan Inc. in 1989.
She joins Vedanta at a time when the mining industry is shelving projects, cutting spending and firing workers as a slowdown in China saps demand for raw materials. Agarwal said this week that Vedanta, India’s biggest aluminum producer, plans to close its Bharat Aluminium Co. unit because of a slump in prices and rising energy costs.
Vedanta added 2.9 percent to 546 pence by 3:24 p.m. in London, cutting its decline this year to 5 percent.