Anglo American CEO Cynthia Carroll tops Fortune's 50

By Staff Writer


From Business Day
October 9 2007
By Khulu Phasiwe

TWO South African businesswomen are among the top 15 of influential business magazine Fortune’s 50 most powerful women in business for 2007.

Fortune has ranked Anglo American CEO Cynthia Carroll and Transnet CEO Maria Ramos at one and 14 respectively.

The list also has 11 newcomers, including Carroll, a move that “demonstrates their rise in male-dominated fields, from nuclear energy, to mining, to oil”.

Fortune said Carroll had quickly made her mark since her appointment this year. She replaced Patricia Russo, the CEO of the telecoms company Alcatel-Lucent, in the top spot.

“Hired in March to carry on the restructuring of the world’s largest mining company (2006 revenue: $33bn), Carroll is making changes of her own.

“So far, the 50-year-old American geologist has bought stakes in an iron ore mine in Brazil and two copper projects, in Peru and Alaska.

“She’s also encouraging innovation and setting high safety targets,” Fortune wrote.

Ramos — who was ranked 16th last year — was credited for leading the restructuring that resulted in the disposal of noncore business units such as South African Airways.

Transnet has raised more than R10bn from the sale of noncore assets.

She had also steered the company to profitability from the R6,3bn loss it posted in 2004, the year she joined .

Last year the state-owned company reported a net profit of R6,3bn on revenue of R28,2bn. The company’s total debt had been reduced to R39,8bn from R62,8bn in 2004.

Transnet said that Ramos was pleased by the recognition.

She paid tribute to her executive team, directors, staff and the government for the transformation at Transnet.

“She believes that this is a timely recognition for the progress made in the journey to transform Transnet into a world-class freight transport and logistics business, and to position the company as the promoter of economic growth in SA,” Transnet said.

Fortune said Anne Lauvergeon, executive chairwoman of French power company Areva, retained her second position.

Third on the list is Marjorie Scardino, CEO of Pearson, owners of the Financial Times and owners of a 50% stake in BDFM, the publishers of Business Day.

Fortune has ranked Zoe Cruz, the joint president of Morgan Stanley, as the highest-paid woman in business.

She received a staggering $30m last year.

Recent Articles

Featured Register your customary marriage or lose the right to inherit estate

December is that time of the year when we will see at least one suitor sending his uncles to negotiate the price of his future wife. Lobola, as the bride price is known, has always been an important element of the African marriage.

Read more

Changing from one medical scheme to another - effortlessly

It is coming up to the end of the year and you might be looking to change medical schemes, or options within a scheme in preparation for the new year. While you don’t necessarily have to wait for year-end to do so, providers often recommend it.

Read more

Your guide to financially surviving Christmas

There are a few times each year where you need to dig deeper into your pocket and spend more money such as birthdays, anniversaries, and the Christmas period. Whether you celebrate this religious holiday or not, the festive period - depending on how you choose to spend it - means increased travelling, buying of gifts, entertaining, and eating out at restaurants.


Read more

Trump, Trump and a little bit of South Africa

What a November we had, with the rand staging one of its best months and closing below the R14.00 level. To be honest, this looked like quite a far-fetched possibility at one stage during the month. It seems that the tide has changed a little, even though it might be short lived since the US dollar bulls are not so sure of their case anymore.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Free iCollege Scholarship

Price: R600
When: Until 16 May 2019
Where: Nationwide

Telkom December Big Deal

Price: R459 pm
When: Until 31 December
Where: Nationwide

Money Savvy Kids Giveaway

Price: R450
When: 8 December
Where: Johannesburg (Milpark)