THE performance of three of Johannesburg’s largest mining shares by value in 2021 will have much to do with a new generation of CEOs, one of which has already been named.
A permanent change of management is imminent for two of bourse’s largest gold companies, AngloGold Ashanti and Gold Fields, whilst at Glencore, the global diversified miner, Gary Nagle is to replace CEO, Ivan Glasenberg.
A fourth firm, Rio Tinto, replaced its CEO Jean-Sébastien Jacques with Jakob Stausholm. Although not listed in Johannesburg, its direction of travel will be illustrative of industry-wide problems and challenges.
In a nutshell, the mining sector is faced with the question of conduct, especially as the ‘shocks’ of 2020 become part of investment consciousness in 2021.
Nick Holland, an accountant and CEO of the company for 13 years, is leaving the firm during 2021 because he reaches the mandatory retirement age of 63. Otherwise, you’d get the sense he’d carry on.