board politics
Anil Agarwal pushes Anglo to show more faith in SA
Disagreement follows tongue-lashing the tycoon gave Anglo in February
Anglo American plc’s biggest shareholder, Anil Agarwal, the Indian billionaire who has in the past accused the company that its heart was not in SA, voted against the appointment of a new director and renewed his calls for the company to sharpen its focus on SA. In a move that reflected deepening tension between the sides, Agarwal, through his family trust Volcan Investments, rejected the appointment of South American Marcelo Bastos at Anglo’s annual general meeting on Tuesday. Anglo won that battle and Bastos made it to the board with 74% of voters. The disagreement, the first public flexing of muscle by Agarwal in using Volcan’s 19.34% stake in the diversified miner to oppose a board decision, follows a tongue-lashing the tycoon gave Anglo in February at the opening of Vedanta’s Gamsberg zinc mine in the Northern Cape. PODCAST: The growing power of class action lawsuits Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm That event was attended by President Cyr...
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