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Anglo boss paid $6m bonus Posted: Wed, 07 Mar 2007 [miningmx.com] -- ANGLO American has awarded a $6m (R46m) signing-on bonus to newly appointed CEO, Cynthia Carroll. Anglo said the signing on bonus, equal to 132,718 shares in the mining house, was to compensate Carroll for incentives forfeited at her previous employer, Alcan. She won't receive all the stock in one go, however. Only 60% of the shares released to her in January next year and another 20% in each of the following two years. With London prices being what they are, Carroll is certainly going to need the bonus. A three-bedroomed house at the upper end of Hampstead befitting a person of her elevated position could easily cost £1.5m (about R21m) and up. And then you still have to buy a car and pay for Ken Livingstone's (the mayor of London) congestion charge, which now costs £8 (R112) a day. Before joining Anglo, Carroll, a US citizen, was head of the Primary Metal Group at Canadian company Alcan, the world's third-largest aluminium producer, where she spent 18 years. The Primary Metal Group accounts for around $12bn in turnover and three-quarters of Alcan's earnings. Carroll is the first woman and the first outsider appointed as chief executive since Anglo American Corporation was founded by Ernest Oppenheimer in 1917. Click Here to subscribe to our daily newsletter
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