UPDATE 2-Anglo American Platinum CEO Griffith to step down, earnings soar – by Tanisha Heiberg (Reuters India – February 17, 2020)


JOHANNESBURG, Feb 17 (Reuters) – Chief Executive Chris Griffith said on Monday he will step down in April from the helm of Anglo American Platinum (Amplats), which on Monday reported a doubling in annual earnings, driven by higher metals prices.

Amplats, a unit of global mining giant Anglo American , said Griffith’s successor was expected to be an internal candidate and would be announced soon.

“After more than seven years at the helm, and given all that we as a team have achieved, this is now the natural time for the next generation of leadership to take this business forward and deliver further value,” Griffith said.

Shares in Amplats were up 4% at 1,311.97 rand by 1222 GMT. Fifty-five year old Griffith, who has a background in mining engineering, said he did not yet have plans for what he would do next and would not rule out a career outside mining.

Appointed CEO in September 2012, Griffith headed Amplats during its turnaround plan to cut production and costs in response to platinum prices, which then were depressed.

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