[miningmx.com] – ANGLO American CEO, Mark Cutifani, either makes a success of his turnaround strategy or the UK listed company will be bought out “in fairly short order”, said Sanford C. Bernstein analyst, Paul Gait.
In a note cited by Bloomberg News, Gait said: “”There is a free option on offer for Anglo. Either the company outperforms under Mark Cutifani’s leadership, and demonstrates the value of tons in the ground, or it fails to do so and is put out of its misery in fairly short order.’
Cutifani took the reins of Anglo American in April 2013 and said several months into the job that return on capital employed (ROCE) had to be improved to at least 15% against the then performance of 8% ROCE.
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