Android app on Google Play

AngloGold (AU) CEO Cutifani Resigns, Will Assume CEO Role at Anglo American

January 8, 2013 6:29 AM EST Send to a Friend
Get Alerts AU Hot Sheet
Trade AU Now!
Join SI Premium – FREE
AngloGold Ashanti Ltd. (NYSE: AU) announced the resignation of Chief Executive Officer Mark Cutifani, who has accepted an offer to become the Chief Executive Officer of Anglo American Plc (OTCBB: AAUKY), effective April 3. Mark will remain in the role of CEO of AngloGold Ashanti until March 31.

The Board of Directors, under Chairman Tito Mboweni, has initiated a formal search for a new Chief Executive Officer of AngloGold Ashanti, in terms of which both internal and external candidates will be considered. When Mark's resignation becomes effective and until a new CEO has been appointed, the board has asked Chief Financial Officer Srinivasan Venkatakrishnan (Venkat) and Executive Vice President Business & Technical Development Tony O'Neill to act as joint interim Chief Executives, with Venkat responsible for all Finance and Corporate functions and Tony responsible for all Operations, Projects (including ERP and procurement) and Technical functions.

Both executives are well suited for their interim roles with strong track records at AngloGold Ashanti and in the mining industry. Venkat has held positions at AngloGold and Ashanti Goldfields since 2000 and has been Chief Financial Officer of AngloGold Ashanti since 2005. Tony, who will join the board of directors in coming weeks, joined AngloGold Ashanti in 2008 and has had an extensive career in mining since 1978. Both Venkat and Tony have indicated to the Board of Directors that they are not at this time intending to put themselves forward for the position of CEO.




You May Also Be Interested In


Related Categories

Management Changes

Add Your Comment