You can’t get the staff these days. Anglo American searched high and low for a chairman to replace Sir Mark Moody-Stuart, finally settling on Sir John Parker. The current chairman of Britain’s National Grid was not, apparently, Anglo’s first choice. It first approached Sir John late last year but only re-contacted him after a proposed merger from Xstrata added fresh urgency to find someone – in fact, almost anyone – with sufficient City credentials who could also blow fresh wind into Anglo’s sails. One of the main reasons behind the Swiss miner’s approach was growing investor dissatisfaction over Anglo’s management.

Sir John, though, is a mixed bag. Neither black nor South African, his appointment is surely a disappointment to Pretoria, which expected a black chairman at the London-listed – but still 35 per cent South African-owned – miner. Then there is his serial director habit. He will have to juggle his two “Anglo days” a week with his continuing chairmanship of National Grid, plus other roles. Still, as head of Britain’s biggest regulated entity, Sir John knows how to deal with government mandarins. He is also usefully schooled in mergers and buy-outs – having extracted significant premiums in past bids, albeit from friendly deals rather than Anglo’s current stand-off with Xstrata.