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AngloGold Ashanti CEO Mark Cutifani to Depart March 31

Date : 08/01/2013 @ 07:04
Source : Dow Jones News
Stock : Anglo American (AAL)
Quote : 1566.5  19.5 (1.26%) @ 16:35

AngloGold Ashanti CEO Mark Cutifani to Depart March 31

Anglo American (LSE:AAL)
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   By Devon Maylie 
 

JOHANNESBURG--AngloGold Ashanti Ltd. (ANG.JO), South Africa's largest gold mining company, said Tuesday that its chief executive Mark Cutifani will be leaving the company at the end of March to lead Anglo American PLC (AAL.LN).

Following his departure, Chief Financial Officer Srinivasan Venkatakrishnan and Executive Vice President Business & Technical Development Tony O'Neill will act as joint interim chief executives.

AngloGold's board has in the meantime started a search for Mr. Cutifani's replacement.

AngloGold Ashanti was spun off from Anglo American in 1998. Its headquarters are in Johannesburg. Mr. Cutifani was appointed CEO of AngloGold in 2007 in a surprise move after leaving his position as chief operating officer of Canada-based Inco, which is now owned by Brazilian miner Vale SA (VALE).

Write to Devon Maylie at devon.maylie@dowjones.com

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