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It is a busy morning for Nick von Schirnding at Anglo American. The previous evening news leaked in Brazil that the mining company was poised to buy MMX Mineração e Metálicos for $5.5 bn (£2.8 bn) and, after a late night, Von Schirnding is waiting for the deal to be signed before a public announcement can be made.

I ask whether this latest journalistic scoop has irritated him. 'I am surprised it took so long to leak,' he laughs. 'But it can be a nightmare when you are working on a deal and the news gets leaked prematurely. The Takeover Panel then gets involved, and deadlines become an issue.'

To date, however, Anglo American has not suffered any major disclosures. This may be partly due to the tight ship Von Schirnding runs. In London, Anglo American employs two investor relations analysts - a former sell-side analyst and a fund manager - and a head of financial media; Von Schirnding concedes this is small for a company of Anglo American's size.

But it may also be due to Von Schirnding's approach. Four years ago, a colleague inadvertently emailed a draft press release regarding Anglo American's forthcoming financial results to a media contact database. 'Luckily it didn't contain any numbers, but the team was up all night phoning the news organisations requesting that they not run it - only one came back to say it would be publishing it,' recalls the softly spoken Von Schirnding. 'I rang the relevant journalist to say that if he chose to publish it, which he was entitled to, nobody within Anglo American would ever speak to any member of his organisation again.' Perhaps unsurprisingly, the journalist retracted his stance; Anglo American has since adopted special measures to prevent any recurrence.

When former chief executive Tony Trahar announced his intention to retire in March 2007, Von Schirnding suffered the usual bout of speculative 'who will Anglo American choose?' articles before the appointment of the relatively unknown Cynthia Carroll was revealed.

The night prior to the announcement of her appointment, a journalist called Von Schirnding, adamant that Anglo American was poised to unveil a well-known male candidate. 'I had to say, Don't do it, and I will give you access when the announcement is made,' recalls Von Schirnding. 'But the journalist was certain he was right. I said, I have the release in my hand, and you have the wrong name. With investors and the media, you have to establish a sense of trust and credibility. For example, I don't defend Anglo American on every occasion. That is not my approach. If we mess up, I would say so.'

Empowered position

Von Schirnding's stance has much to do with his position within Anglo American. He is a member of the executive committee and views all minutes and notes of board meetings. He also has direct and regular access to Carroll and finance director René Médori. 'It is critical to do my job that I have a thorough understanding of the strategic thinking,' he explains. 'It empowers me in my role.'

Indeed, South Africa-born Von Schirnding made this a condition of accepting his role. 'I said at the outset that there are two types of IROs: the mouthpiece, and the person who is strategically aware and involved,' he says. 'If they were looking for the former, the job was not for me. I also said the role should encompass financial media. It is quite challenging for companies to run two separate departments. The board accepted my argument that, if my role was to be taken seriously, I had to speak with authority.'

The conversation took place in 1998, shortly after South Africa-based Anglo American had sought - and won - the approval of former president Nelson Mandela to organise a dual listing in London. 'Mandela saw that Anglo American was not emigrating,' Von Schirnding says. 'But if it were to succeed in a rapidly changing market, and gain access to international markets, we needed a London listing.' Just 10 percent of Anglo American was held overseas at the time.

A law graduate, Von Schirnding joined Anglo American after completing two years of compulsory national service. 'The company used to take five or six graduates a year, and over two years would train them to the equivalent of a BCom degree. The scheme has since been stopped because it was viewed as elitist,' he explains. He was seconded to the corporate affairs and IR department of sister company Minorca when the call came to move to London; Von Schirnding moved over in May 1999.

Recognising that a move would also require a dramatic change in the company's attitude toward shareholders, Von Schirnding 'had to explain to senior management that, at the end of the day, all board appointments, salaries and strategies are driven by shareholders - it is absolutely critical to know what they want. Initially management was sceptical. For example, I don't think any previous chief executive of Anglo American had actually walked into the offices of Old Mutual, one of South Africa's leading investors. The mountain came to Mohammed. But it all comes down to trust and relationships.'

Team work

Von Schirnding gave himself three years to get to know the London-based investor community and establish Anglo American on its radar screen. He listened to the community's views, and even sought the advice of the legendary Julian Baring, head of the mining team at Mercury Asset Management, Britain's leading investor.

The strategy worked. Today, South African investors account for 20 percent, UK investors 45 percent, and the balance is spread across international institutions. More than that, however, Von Schirnding now has a deep understanding of both the media and investors.

Against the advice of both external consultancies and financial advisers, Von Schirnding escorted Carroll on a meet-and-greet tour before she officially took over. 'I told her she had nothing to lose - people couldn't pick holes in her strategy because she didn't have one yet. And they couldn't criticise her operating record for the same reason. This was just a chance to say, Hi, tell me what is good and bad about the company. The investment community appreciated the effort.' And Carroll's standing with investors rose sharply.

The strategy also meant that, when Carroll was finally in situ, she was able to retreat from public view, enabling her to get on with the task in hand. 'It is all down to relationships and trust,' reiterates Von Schirnding, before departing to handle the announcement of Anglo American's latest acquisition.

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