Nicky Oppenheimer steps down at Anglo

Mining giant Anglo American yesterday said non-executive director Nicky Oppenheimer - grandson of the company's founder - is to step down after 37 years on its board.

Oppenheimer, who started off as an employee with Anglo 40 years ago, remains chairman of diamond producer De Beers, in which Anglo holds a 45 per cent stake.

He said: "Anglo American has been in the psyche of every member of my family since the company was founded nearly a century ago… there comes a time when it is right to allow others to carry the baton."