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Anglo American Hires Cutifani as CEO After Losing $14 Billion

Anglo American Plc appointed Mark Cutifani as chief executive officer as the mining company seeks to reverse the $14 billion loss of market value it suffered in the five years his predecessor Cynthia Carroll was in charge.

The Australian Cutifani takes over from April 3, London-based Anglo said today in a statement. He resigned as CEO of Johannesburg-based AngloGold Ashanti Ltd., the third-largest bullion producer, AngloGold said in a separate statement.