AngloGold Ashanti, the world's third-biggest gold producer, yesterday announced the abrupt resignation of its chief executive Kelvin Dushnisky from next month - two years after his appointment.
AngloGold Ashanti, the world's third-biggest gold producer, yesterday announced the abrupt resignation of its chief executive Kelvin Dushnisky from next month - two years after his appointment.

AngloGold chief in abrupt resignation

By Dineo Faku Time of article published Jul 31, 2020

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JOHANNESBURG - AngloGold Ashanti, the world's third-biggest gold producer, yesterday announced the abrupt resignation of its chief executive Kelvin Dushnisky from next month – two years after his appointment.

AngloGold Ashanti said that current chief financial officer Christine Ramon had been appointed interim chief executive while the board embarked on a comprehensive recruitment process to find Dushnisky’s successor, who is expected to deliver on the group's strategy for enhanced value creation.

“The recruitment process will be designed to search for the candidate with strong leadership skills and relevant industry experience as well as values which are aligned with AngloGold Ashanti’s,” the company said.

Dushnisky is expected to remain in Toronto, Canada, to spend time with his family, but would be available to assist the group with a smooth handover until February 28, 2021.

In thanking Dushnisky, chairperson Sipho Pityana said that he leaves the business in solid shape, with robust cash flows aiding ongoing debt reduction.

“AngloGold Ashanti is well positioned to further improve returns for shareholders, through improved operational performance and our rigorous approach to capital allocation,” said the company.

Dushnisky said he had enjoyed the challenge of leading AngloGold Ashanti over these past two years, “during which time we've made tremendous progress on many fronts, from safety, to effective capital deployment and streamlining the asset base, all while continuing to deliver strong returns.”

BUSINESS REPORT

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