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Boardroom blitz: New bosses, new beginnings for FTSE 100 miners

Wholesale change at the helm of global miners reflects fundamental strategic changes within the industry that could result in shareholders having first call on excess capital
Boardroom blitz: New bosses, new beginnings for FTSE 100 miners

To lose one chief executive may be regarded as a misfortune; to lose a handful looks like carelessness. The exodus at the helm of the world's biggest listed miners might have left some investors feeling slightly aggrieved, particularly if they interpreted the changes as tacit admission that management got it badly wrong on strategy. In the end, the cull extended beyond the top-tier miners to take in at least a dozen other large and medium-sized global entities. With the recent exception of the banks, it's difficult to recall such a widespread cull from a sector, but perhaps it heralds the return of a business culture that demands a little more scrutiny at the executive level - we can but hope.

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