Anglo CEO Carroll’s Pay Falls 24% in Last Full Year in Charge
Anglo American Plc (AAL) Chief Executive Officer Cynthia Carroll received 24 percent less pay in 2012, the last of her five full years in charge of the company during which it lost almost a quarter of its value.
Carroll got 1.7 million pounds ($2.55 million) in salary, cash bonus and benefits, compared with 2.2 million pounds a year earlier, London-based Anglo American said in its annual report posted online today. Her total 2012 package, which included bonuses deferred, share releases and pension contributions, fell to 3.2 million pounds from 8.1 million pounds in 2011.
Princeton, New Jersey-born Carroll quit the company in October and will be replaced by AngloGold Ashanti Ltd. (AN) CEO Mark Cutifani on April 3. She will receive about 1.4 million pounds in vested shares as part of her termination deal, a person with knowledge of the matter said earlier this month. She will continue to receive her 1.2 million pound-annual salary in monthly installments as long as she does not have a new job, until the end of 2013 at the latest.
Anglo American lost about $14 billion of its value during Carroll’s tenure to October 2012 and suffered cost blowouts and delays at its $8.8 billion Minas-Rio iron-ore project in Brazil.
To contact the reporter on this story: Firat Kayakiran in London at email@example.com
To contact the editor responsible for this story: John Viljoen at firstname.lastname@example.org