By Alex MacDonald 

LONDON-- Anglo American PLC said Friday it has appointed Stephen Pearce as chief financial officer and executive board member after René Médori announced in April his decision to retire next year.

Mr. Pearce has been CFO of one Australia-based Fortescue Metals Group Ltd, one of the world's largest iron ore producers, since 2010. He played a major role in steering Fortescue through a period of major investment and strong growth.

In more recent times, he has worked through the challenges of the sharp decrease in iron ore prices via rapid cost improvement and significant debt reduction.

Mr. Pearce will join Anglo American on January and take over the CFO and board positions on April 24, 2017 to enable a smooth transition between CFOs and the completion of the 2016 reporting process.

Write to Alex MacDonald at alex.macdonald@wsj.com

 

(END) Dow Jones Newswires

September 23, 2016 02:49 ET (06:49 GMT)

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