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The past couple of weeks have told a tale of two contrasting corporate leadership transitions, at Anglo American and at Absa.

Anglo announced that CEO Mark Cutifani will step down in April to be replaced by experienced insider Duncan Wanblad. No-one was in the least surprised. Cutifani signalled some time ago that he would step down after a nine-year term: he was brought in to turn the group around when Anglo’s Minas Rio iron ore project in Brazil was one of the big disasters he had to fix; he wanted to time his departure to coincide with the commissioning of its big new Quellaveco copper mine in Peru, a project that is key to taking the group into the future...

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