Wrap Text
ANG - Anglogold Ashanti Announces Further Changes To The Company`s Senior
Management Team
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti/Company")
ANGLOGOLD ASHANTI ANNOUNCES FURTHER CHANGES TO THE COMPANY`S SENIOR MANAGEMENT
TEAM
AngloGold Ashanti today announced further changes to the company`s senior
management team. Consistent with the focus on improving operating performance
CEO Mark Cutifani confirmed the establishment of a decentralised regional
operating structure with Robbie Lazare (Africa), Ron Largent (Americas) and
Graham Ehm (Australia) as the accountable Executive Vice Presidents for the
operating regions, reporting direct to the CEO. This move is designed to further
strengthen the focus on delivering safety improvement and operating
efficiencies. In addition the following have been appointed to the roles of
Executive Vice Presidents: Charles Carter (Business Strategy), Richard Duffy
(Business Development), Peter Rowe (Business Effectiveness), Thero Setiloane
(Sustainability), Nigel Unwin (Organisational Development).
These operational and functional EVPs, together with Mark Lynam (Treasurer)
and Yedwa Simelane (Compliance and Corporate Administration), are members of the
company`s Executive Committee. Mark Cutifani and Srinivasan Venkatakrishnan
(CFO) will remain the only Executive Directors and will also be members of the
Executive Committee.
In respect of the management structure for operations in Africa, two
decentralised teams reporting to Robbie Lazare are being established. Johan
Viljoen has been appointed Regional Head for Southern Africa and will establish
a lean technical and services team based in Potchefstroom. In respect of West
Africa, Christian Rampa Luhembwe has been appointed Regional Head for West
Africa and will establish a similar technical and services team based in Accra.
These changes will involve ongoing restructuring and downsizing to the corporate
services provided from Johannesburg.
The company also announced that Brent Horochuk, managing Director at Geita
Gold Mine in Tanzania, will be leaving the company. Richard Le Sueur, formerly
manager of the Morila joint venture in Mali, will be appointed managing Director
at Geita Gold Mine as from early January. Richard Le Sueur will report direct to
Robbie Lazare.
Commenting on the management changes, CEO Mark Cutifani said "I have
reconstituted the executive leadership team to focus on business strategy and
the associated framework for change and operational improvement. Our first order
of business must be to rebuild our business strategy to focus on improving the
generation of value for our shareholders. Consistent with delivering improved
value we must ensure that we are delivering on our commitments. This is the
start of a process to realise the full potential of our people and assets. While
we currently have some underperforming operations, such as Geita, I am confident
that with the right support to new management on the ground we will start to see
the kind of performance that I expect from the business."
13 December 2007
JSE Sponsor - UB
Queries
South Africa Tel: Mobile: E-mail:
Charles Carter +27(0)11 637 6385 +27 (0) 82 330 5373
cecarter@AngloGoldAshanti.com
Alan Fine +27(0)11 637 6383 +27(0)83 350 0757
affine@AngloGoldAshanti.com
Certain statements made during this communication, including, without
limitation, those concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, cash costs and other operating
results, growth prospects and the outlook of AngloGold Ashanti`s operations
including the completion and commencement of commercial operations of certain of
AngloGold Ashanti`s exploration and production projects, and its liquidity and
capital resources and expenditure, contain certain forward-looking statements
regarding AngloGold Ashanti`s operations, economic performance and financial
condition. Although AngloGold Ashanti believes that the expectations reflected
in such forward-looking statements are reasonable, no assurance can be given
that such expectations will prove to have been correct. Accordingly, results
could differ materially from those set out in the forward-looking statements as
a result of, among other factors, changes in economic and market conditions,
success of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and
exchange rates, and business and operational risk management. For a discussion
of such factors, refer to AngloGold Ashanti`s annual report for the year ended
31 December 2006, which was distributed to shareholders on 29 March 2007.
AngloGold Ashanti undertakes no obligation to update publicly or release any
revisions to these forward-looking statements to reflect events or circumstances
after today`s date or to reflect the occurrence of unanticipated events.
Date: 13/12/2007 12:58:01 Supplied by www.sharenet.co.za
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