Anglo American’s 2015 earnings were not a pretty picture, as the miner slumped to a record $5.5bn pre-tax loss in 2015. The earnings of chief executive Mark Cutifani, meanwhile, were rather more palatable.
Mr Cutifani, who recently told the FT’s James Wilson that the miner took “more time than we should have” to sell underperforming assets as it became clear that the commodities bubble had burst, notched up remuneration totalling £3.4m** for 2015, hardly changed from the £3.7m he earned in 2014, according to the annual report released today.
The miner’s shares have dropped 75 per cent since Mr Cutifani took over in January 2013.
Anglo recently said it will shut or dispose of 65 per cent of its assets as it hunkers down to ride out the commodities rout.
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**Amends post to show that Mr Cutifani pay was £3.4m, not £3.4bn.
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