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It was an emotional decision - Nicky Oppenheimer, E. Oppenheimer & Son In an interview on 702 @ 18:10 on Friday, 10 November 2006 [miningmx.com] -- THE decision to sell a 1% stake in Anglo American, worth about R5.73bn, was an "emotional decision" said Nicky Oppenheimer of E. Oppenheimer & Son. Oppenheimer is also a non-executive director of Anglo American and chairman of De Beers. "For us the family was important. It was not a decision that we came to easily. It was very emotional," said Oppenheimer. He was speaking on the World at Six, a business programme broadcast on 702. Ernest Oppenheimer, Nicky's grandfather, was the founder of Anglo American in the nineteenth century. Anglo has recently been subject to speculation that it would be the target of a takeover. Oppenheimer said the sale was to provide for the family generations henceforth which required diversity. It was not a vote of no confidence in Anglo American, said Oppenheimer. The Oppenheimers were confident in the future of Anglo American which recently appointed a new CEO in Cynthia Carroll, an American currently working for aluminium producer, Alcan. "I was part of the nomination committee and I was involved in the appointment of Cynthia Carroll. "We were looking for somebody with team loyalty and the drive to build on the good work of Tony Trahar (outgoing CEO). I think we found that," said Oppenheimer.
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