31/07/2020 - 11:00

AngloGold in search for new CEO

31/07/2020 - 11:00

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Kelvin Dushnisky will step down from his role as chief executive of Johannesburg-based goldminer AngloGold Ashanti in September after serving two years with the company.

AngloGold in search for new CEO
Kelvin Dushnisky will remain available to assist AngloGold until February 28 next year.

Kelvin Dushnisky will step down from his role as chief executive of Johannesburg-based goldminer AngloGold Ashanti in September after serving two years with the company.

Anglo's chief financial officer Christine Ramon will temporary lead the company during its search for a new chief executive.

Ms Ramon will assume the role of interim chief executive on September 1, while current senior vice president Ian Kramer will act as interim chief financial officer during the transition period.

AngloGold said Toronto-based Mr Dushnisky would be available to assist the company until February 28 next year.

Mr Dushnisky joined AngloGold in mid-2018 from Canada-based Barrick Gold, where he served as president and executive director for 16 years.

He replaced former AngloGold CEO Srinivasan Venkatakrishnan, who had left the company to join UK-based Vedanta Resources.

Mr Dushnisky said he had enjoyed the challenge of leading AngloGold over the past two years.

"We've made tremendous progress on many fronts, from safety, to effective deployment and streamlining the asset base, all while continuing to deliver strong returns,” he said.

Present chairman Sipho Pityana said Mr Dushnisky was leaving the company in solid shape.

AngloGold, which operates the Sunrise Dam mine and Tropicana joint venture in Western Australia, said it anticipated to have made earnings of $392-416 million in the six months to June 30.

Its financial results will be released on August 7.

Shares in AngloGold were down 8.6 per cent to trade at $9.33.

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