Continuous loss in more than five years has led Cynthia Carroll, the first non-South African woman, to quit the position of Chief Executive at Anglo American Plc (AAL). It has been found that the company has faced a loss of $14 billion and at the time when she was heading the company.
Sources known to the matter were of the view that Carroll will continue to hold the position till the time a new successor is not being appointed. It seems that luck of Carroll has not been working, as it has been found that she has also been stepping down from the post of chairman of the company.
Dan Matjila, who is the chief investment officer at Pretoria, said that Carroll has taken wrong decisions, and this is the reason that the company has faced such a big loss. He further asserted, "The performance was more about poor decision making than it was about tough markets".
The condition of the company was so bad that it witnessed a three-year low. Moreover, a legal battle was also being faced by company in Chile. It seems that Carroll kept on making such decisions, which did not turn out to be the ones, as it should have been.
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