Anglo Gold Ashanti appoints new CEO

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Anglo Gold Ashanti, South Africa’s JSE listed mining company announced on 8 May 2013, the appointed Srinivasan Venkatakrishnan as the new CEO.

Venkat takes over the position that was vacated by Mark Cutifani who was appointed CEO of another mining giant Anglo American Corporation.

Venkat has been with AngloGold for almost 10 years. He was the Chief Financial Officer (CFO) at Ashanti Goldfields until that company’s merger with Anglo Gold in May 2004.

This merger created what is now called AngloGold Ashanti. He became CFO of the combined entity and joined the board in 2005 shortly after the merger.

Following the exit of Cutifani at the start of this year, Venkat has been joint interim CEO of AngloGold together with Tony O’Neill.

The board said O’Neill will remain an executive director on the board and revert to his role as Executive Vice President: Business and Technical Development.

Venkat will continue in his role as CFO of AngloGold until further notice. The company said a global search for a new CFO has already been started.

As CFO, Venkat, has overseen funding for all of AngloGold’s operating activities, giving him a detailed knowledge of all of the company’s mines and operating jurisdictions.

“We’re extremely pleased to have an executive of Mr. Venkatakrishnan’s calibre to lead AngloGold Ashanti through the next phase of its development,” said Tito Mboweni, AngloGold Ashanti Chairman.

“He will enjoy my personal support and the full support of the board as he brings his extensive experience to complement the impressive depth of our operating and strategic talent.”

Venkat said AngloGold has high-quality assets and a deep pool of world class talent, adding he will build on the good work done over the years.

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