Anglo American announced that De Beers chairman Nicky Oppenheimer is retiring
from his position as a non-executive director, after 37 years on its board.

Nicky’s grandfather Ernest Oppenheimer founded Anglo in 1917. For many years, De Beers and Anglo were considered sister companies. Anglo remains a major shareholder in De Beers.

Oppenheimer will step down at the conclusion of Anglo
American’s general meeting, to be held on April 21.

“Anglo American has been in the psyche of every member of my
family since the company was founded nearly a century ago,” Oppenheimer said in
a statement. “However, there comes a time when it is right to stand aside and
allow others to carry the baton. For me, that time is now.”

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