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Fortescue CFO defects to Anglo American as finance director

Following news of Stephen Pearce's exit from Australian iron ore producer Fortescue Metals Group Ltd., U.K.-based Anglo American Plc has revealed itself as the company that is snapping the executive up.

Pearce will become the mining heavyweight's finance director, replacing René Médori who is retiring at the end of 2017, according to a Sept. 23 statement.

Fortescue revealed earlier the same day that Pearce was resigning as CFO to take up an overseas position.

He will join Anglo American and its Group Management Committee on Jan. 30, 2017, prior to joining the board as an executive director and taking over as finance director on April 24, 2017.

Médori, meanwhile, will remain on the board until the conclusion of Anglo American's annual general meeting on April 24, 2017.