admindirectors, under chairman Tito Mboweni, has initiated a formal search for a new CEO in terms of which both internal and external candidates will be considered.
When Cutifani’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 and 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 and technical functions.
Commenting on Cutifani’s intended departure, Mboweni said he would like to thank Mark for his five years of inspirational leadership, during which time he transformed the business.
“Mark led a significant operations and financial turnaround with industry-leading returns, and built a leadership team with outstanding breadth and depth.
“I am indebted to Mark for successfully navigating many difficult aspects of the global business and for setting the company up for long-term success,” said Mboweni. Cutifani described working for the company he is leaving as an honour.
“It’s been a privilege working with the board and my colleagues to rebuild our operations and financial foundations and deliver industry-leading capital returns, whilst developing a project pipeline to deliver long-term sustainable value.
“But it’s the focus on people, the rebuilding of the management team and their delivery of significant safety, environment and community development improvements, that will help AngloGold Ashanti prosper in the long term,” Cutifani said. — CAJ News.
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