Anglo American has appointed Stuart Chambers, the former chairman of Arm Holdings and the packaging group Rexam, to succeed Sir John Parker as its next chairman.
Mr Chambers will arrive to oversee the turnaround efforts of Mark Cutifani, chief executive of the mining group since 2013.
Arm, the FTSE 100 chipmaker, was sold to Softbank, of Japan, last summer in a £24 billion deal amid criticism that it had succumbed too easily to an opportunistic offer.
Mr Chambers also faced criticism that Arm had paid out more than £50 million to advisers, led by Goldman Sachs and Lazard, despite it being a friendly deal announced two weeks after Softbank’s approach.
Mr Chambers will join as non-executive director and chairman-designate on September 1 before becoming chairman on November 1, Anglo said in a statement.
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Analysts at Investec said: “We hope it is not portentous that Stuart was the chairman of Arm Holdings and Rexam, when both were taken over!”
Both Rio Tinto and BHP Billiton are seeking new chairmen.
Shares in Anglo rose 5p to £10.50, in line with other mining groups.