Dushnisky quits AngloGold Ashanti

31 Jul 2020

Kelvin Dushnisky has quit his job of chief executive officer of AngloGold Ashanti, just two years after taking up the role. No reason was given for his resignation. The company's current chief financial officer (CFO), Christine Ramon has been appointed interim CEO.

Kelvin Dushnisky

His resignation is effective 1 September 2020.

According to the company, Dushnisky is leaving AngloGold Ashanti in solid shape, with robust cash flows aiding ongoing debt reduction. The quality of the portfolio continues to improve, with the agreed sale of our South African assets in progress, the Obuasi Redevelopment Project ramping up to full production, our two high-quality Colombia projects progressing through feasibility-study stage, and initiatives to increase reserve life at key assets, progressing well.

Prior to replacing Srinivasan Venkatakrishnan in September 2018, Dushnisky was president and executive director of rival Barrick Gold. The company said Dushnisky will remain in Toronto with his family, and would be available to assist with a smooth handover until the end of February next year.

Transition

In the meantime, the board will embark on a comprehensive recruitment process to find a new CEO to deliver on the group’s strategy for enhanced value creation.

During this transitional period the board, primarily through the investment committee and audit and risk committee, will provide additional guidance and support to the executive management team.

Looking ahead, the board and executive management have maintained a clear set of near-term priorities, including safe navigation of the Covid-19 pandemic, prioritising the welfare and safety of our people and the support of healthcare systems in host communities, while also ensuring continued operating improvements, the company said.