When Anglo American was fending off the unwanted advances of the then Mick Davis-led Xstrata in the aftermath of the last global recession, it exposed the flaw of the South African CEO position in a company that is quite clearly being led from headquarters elsewhere.

With Anglo's board trying to drum up shareholder and stakeholder support in the South African government, it was quite clear where the real power vested.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.