[miningmx.com] – ANGLO American CEO, Mark Cutifani, is to put the group’s $50m private jet – a Gulfstream G550 – up for sale after shareholders criticised the company for owning one in “these straitened times”.
“Anglo has had some criticism from shareholders – not publicly, but behind the scenes – that we’re one of the few companies with a private jet, which doesn’t always look good in these straitened times,’ a market source told the Financial Times.
The Gulfstream G550 – which its manufacturers claim has “the most flexible and comprehensively equipped cabin in its class’ – costs about $50m new, on top of its operating costs, said the Financial Times.
“The value doesn’t change the financials of the company, but it sends a message that the culture needs to change,’ said the person familiar with the situation. The jet was bought in 2011.
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