Anglo American drops plan to pay bosses millions in bonuses after $50bn Teck merger backlash

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by Lauren AlmeidaDecember 8, 2025 at 11:33 AM

AI Summary

medium article 2 min

Anglo American has withdrawn its proposal to award multimillion-pound bonuses to its executives upon completion of its planned $50 billion merger with Teck Resources. The decision follows shareholder concerns regarding the proposed payouts, which included an £8.5 million bonus for CEO Duncan Wanblad. The company initially argued the bonuses were necessary to align pay structures with the successful delivery of the merger and retain senior management. However, influential voices, including Institutional Shareholder Services (ISS), criticized linking incentives to transaction completion. The reversal occurs just before shareholder votes on the merger, which aims to create a major copper producer. This merger plan emerged after Anglo American successfully resisted takeover attempts from BHP last year.

Key Entities & Roles

Key Player Opposition Context

Duncan Wanblad ×250% Teck Resources ×360% Anglo American ×680%

Keywords

merger 100% anglo american 90% bonuses 80% shareholder approval 70% teck resources 70% executive pay 60% copper producer 50% takeover attempts 50% investor backlash 40%

Sentiment Analysis

Neutral

Score: -0.10

Source Transparency

Source

The Guardian - World News

Political Lean

Center-Left (-0.40)

Far LeftCenterFar Right

Classification Confidence

90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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merger anglo american bonuses shareholder approval teck resources executive pay copper producer takeover attempts investor backlash

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