John Parker named as chairman of Anglo American

Mining giant Anglo American today appointed Sir John Parker as its new chairman, replacing Sir Mark Moody-Stuart who is retiring after seven years at the helm.

Boardroom stalwart Parker, 67, who recently departed as chair of the Court of the Bank of England, is expected to step down from several of his other board commitments. He is currently chairman of National Grid, and joint chair of the Mondi Group, the packaging group that was a part of Anglo until it was demerged two years ago.

The South African miner is reported to have chosen Parker in order to stress its independence to shareholders. Anglo American last month rejected a £41 billion merger with rival giant Xstrata.

But the appointment could provoke anger from parts of the South African government, which had compiled a list of black candidates for the chairman role. The government wanted Anglo, which is 35% owned by South African shareholders, to use the appointment to show it is committed to the development of the country.