Edition:
United States

AngloGold Ashanti Ltd (AU)

AU on New York Consolidated

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29 Jul 2016
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Summary

Name Age Since Current Position

Sipho Pityana

55 2014 Non-Executive Independent Chairman of the Board

Srinivasan Visvanathan

49 2013 Chief Executive Officer, Executive Director

Lumkile Nkuhlu

71 2014 Non-Executive Independent Vice Chairman of the Board

Christine Ramon

49 2014 Chief Financial Officer, Executive Director

Charles Carter

52 2013 Executive Vice President - Strategy and Business Development

Maria Perez

49 2014 Executive Vice President - Legal, Commercial and Governance and Company Secretary

Italia Boninelli

58 2011 Executive Vice President - People and Organisational Development

Graham Ehm

58 2013 Executive Vice President - Planning and Technical

David Noko

57 2013 Executive Vice President - Sustainability

Ron Largent

54 2013 Chief Operating Officer, International

Chris Sheppard

57 2015 Chief Operating Officer, South Africa

Albert Garner

59 2015 Non-Executive Independent Director

Rhidwaan Gasant

55 2010 Non-Executive Independent Director

David Hodgson

68 2014 Non-Executive Independent Director

Nozipho January-Bardill

64 2011 Non-Executive Independent Director

Michael Kirkwood

67 2012 Non-Executive Independent Director

Maria Richter

60 2015 Non-Executive Independent Director

Rodney Ruston

65 2012 Independent Non-Executive Director

Stewart Bailey

2014 IR Contact Officer

Biographies

Name Description

Sipho Pityana

Mr. Sipho M. Pityana is Non-Executive Independent Chairman of the Board of the Company. He has extensive business experience having served in both an executive and non-executive capacity on several JSE listed boards of companies as well as running his own company, Izingwe Capital Proprietary Limited, which he chairs. He is chairman of the JSE-listed Onelogix and of Munich Reinsurance of Africa and a director of a number of manufacturing companies including Aberdare Cables. He also served on the boards of Bytes Technology Group, Afrox, SPESCOM the Old Mutual Leadership Group and Scaw Metals. He previously worked as an executive director of Nedcor Investment Bank and managing director of Nedbank. In addition to his private sector track record, Sipho has extensive public sector experience and international exposure. He was the first Director General of the Department of Labour in a democratic South Africa. As the Foreign Affairs Director General he represented South Africa in various international fora including the United Nations, African Union, Commonwealth and the International Labour Organization. He was one of the founding members of the governing body of the Commission for Conciliation, Mediation and Arbitration (CCMA) and Convenor of the South African government delegation to the National Economic Development and Labour Council (Nedlac). He is a member of the Advisory Council of the Council for the Advancement of the South African Constitution (CASAC).

Srinivasan Visvanathan

Mr. Srinivasan Visvanathan is Chief Executive Officer, Executive Director of the Company. He was appointed CEO on 8 May 2013, after holding the position of joint acting CEO from April of that year. He was previously Chief Financial Officer (CFO) at Ashanti Goldfields until its merger with AngloGold in May 2004, creating what is now AngloGold Ashanti. Venkat became CFO of the combined entity shortly after the merger and joined the board on 1 August 2005. He is chairman of the Executive Committee and also a member of the Social, Ethics and Sustainability Committee. In his role as CFO, he oversaw funding for all of AngloGold Ashanti’s operating activities, giving him a detailed knowledge of all of our mines and operating jurisdictions. He is a member of the Financial Reporting Investigation Panel, an advisory panel of the JSE. He was the executive responsible for eliminating a 12Moz hedge book, generating significant value for the company, and was the key executive behind rebuilding the balance sheet through a series of successful debt financings that introduced long-term tenor and more favourable funding terms to the company’s credit profile. During Venkat’s first year as CEO of AngloGold Ashanti, two new mines were commissioned on time and ahead of budget, the company achieved its best ever safety performance and a significant restructuring was undertaken of operating and overhead costs in order to focus the business on delivery of sustainable free cash flow and returns. Venkat was also previously a director of corporate reorganisation services at Deloitte & Touche in London.

Lumkile Nkuhlu

Prof. Lumkile Wiseman Nkuhlu is Non-Executive Independent Vice Chairman of the Board of the Company. He was first appointed to the board on 4 August 2006 and resigned on 30 April 2009. He was re-appointed to the board on 1 June 2009, appointed Lead Independent Director from February 2014 and Deputy Chairman from March 2014. Prof Nkuhlu, a respected South African academic, educationist, professional and business leader, served as Economic Adviser to the former President of South Africa, Mr Thabo Mbeki, and as Chief Executive of the Secretariat of the New Partnership for Africa’s Development (Nepad) from 2000 to 2005. From 1989 to 2000, he served as a director on a number of major South African companies or subsidiaries, including Standard Bank, South African Breweries, Old Mutual, Tongaat, Hulett, BMW and JCI. Prof Nkuhlu was president of the South African Institute of Chartered Accountants from 1998 to 2000 and principal and vice chancellor of the University of Transkei from 1987 to 1991. He is currently a member of the Board of the Ethics Institute of South Africa, Datatec Limited, the Nepad Business Foundation and the Chartered Director Governing body of the Institute of Directors in South Africa. He was elected president of the Geneva-based International Organisation of Employees (IOE) in May 2008 and served for two years. Lastly, he is a trustee of the International Financial Reporting Standards Foundation which provides oversight of the accounting standard setting operations of the International Accounting Standards Board (IASB).

Christine Ramon

Ms. Christine Ramon has been appointed as Chief Financial Officer, Executive Director of the Company. She joined AngloGold Ashanti as CFO and executive director with effect from 1 October 2014, in compliance with the JSE Listings Requirements. Christine has held senior financial management and executive positions in various companies, in particular as CFO and executive director of Sasol Limited from 2006 to 2013. Prior to this, she was CEO of Johnnic Holdings Limited, having previously served as its financial director. Currently, she is a non-executive director on the boards of MTN Group Limited and Lafarge (France). She previously served on the boards of Transnet SOC Limited and Johnnic Communications Limited. Christine is a member of the South African Institute of Chartered Accountants and the Association for the Advancement of Black Accountants of South Africa. She served previously as a member of the Standing Advisory Committee to the International Accounting Standards Board and currently serves as Deputy Chair of the Financial Reporting Standards Council of South Africa. Christine’s current portfolio includes finance and treasury, insurance services, internal audit, taxation and information technology.

Charles Carter

Dr. Charles E. Carter is Executive Vice President - Strategy and Business Development of the Company. He holds BA (Hons); DPhil; EDP. He has worked in the mining industry in South Africa and the Americas since 1991, in a range of corporate roles with Anglo American plc, RFC Corporate Finance and AngloGold Ashanti. He is responsible for group strategy, business development, corporate finance, investor relations and communications portfolios. He has worked in the mining industry in South Africa and the Americas for more than 24 years and has had responsibility for a range of additional portfolios that include human resources, risk management, business planning and executive responsibility for the company’s business in Colombia.

Maria Perez

Ms. Maria Esperanza Sanz Perez is Executive Vice President - Legal, Commercial and Governance and Company Secretary of the Company. She holds BCom LLB; H Dip Tax; Admitted Attorney. She joined AngloGold Ashanti in June 2011 having worked in a number of industries and major corporate organisations. She has held legal roles at Investec Bank, Basil Read, Afrox and Sappi. She was also Group Head of Sustainability at Sappi. She was appointed Company Secretary in September 2012. Ria’s role is Executive Vice President: Group General Counsel and Company Secretary, with accountability for legal affairs, compliance, company secretarial, corporate cost reduction, and integrated reporting. She is also accountable for the legal and commercial aspects of global procurement.

Italia Boninelli

Ms. Italia Boninelli is Executive Vice President - People and Organisational Development of the Company. She Holding the portfolio of Human Resources, Italia is responsible for the global people strategy at AngloGold Ashanti where it is well recognised that ‘people are the business, and our business is people’. With more than 25 years’ experience in human resources across a variety of industries, including mining, manufacturing, healthcare and banking, Italia brings a wealth of knowledge, particularly in the labour field, which is crucial to domestic and international operations. She joined the group in 2010 and is responsible for building a highly engaged and productive workforce.

Graham Ehm

Mr. Graham J. Ehm is Executive Vice President - Planning and Technical of the Company. He has, since 1977, gained diverse experience in mine operations and project management, covering the nickel, phosphate, copper, uranium and gold sectors. He has multi-commodity experience, has held senior leadership positions in AngloGold Ashanti in Tanzania and Australia. His current portfolio entails safety, business process framework (BPF), risk, asset optimisation, capital investment optimisation and monitoring of projects, studies and exploration. The Planning and Technical portfolio is his accountability.

David Noko

Mr. David Collen Noko is Executive Vice President - Sustainability of the Company. He holds MBA; Senior Executive Programme; Post Graduate Diploma in Company Direction; Higher National Diploma (Engineering). He leads the sustainability portfolio which comprises the disciplines of health, the environment, social and community affairs, corporate social investment, human rights, global security, stakeholder engagement and government relations. In this role he sets the company sustainability direction and strategy and positions the company externally as a leader within the global sustainability landscape. He has extensive experience both within the mining industry and beyond, having been in leadership roles at South African Breweries, Pepsi Cola, Air Chefs and De Beers Consolidated Mines Limited prior to joining AngloGold Ashanti in 2012.

Ron Largent

Mr. Ron W. Largent is Chief Operating Officer, International of the Company. He holds BSc (Min. Eng.); MBA. He has more than 30 years’ experience in international mining operations and project management. He joined the organisation in 1994 as Manager, Gold Operations for Cripple Creek & Victor, and was promoted to Executive Vice President – Americas in 2007. He was subsequently promoted to Chief Operations Officer – International in 2013, and his portfolio was extended to include Continental Africa. Effective January 2014, Australia was also included in his remit. He is currently accountable for overall strategic and operational responsibilities for production at the company’s mining operations across four continents and nine countries. In addition, he leads a team mandated to remove $500m from the group’s operating cost base within an 18-month period ended December 2014.

Chris Sheppard

Mr. Chris Sheppard has been appointed as Chief Operating Officer, South Africa of the Company. Chris, a mining engineer by profession, was most recently Managing Director of Murray & Roberts Cementation, one of Africa's largest mining contractors and a division of South Africa's largest publicly traded engineering & construction group. Over more than four years Chris had oversight across several countries and mineral types of activities including mining, shaft sinking, tunnelling, raise drilling, mine development and exploration drilling. He also led the drive to adapt the business to the challenging market conditions that have affected the global mining sector. Prior to that, Chris held positions as head of both mining and technical services at Lonmin Plc for four years, following six years at Anglo American Platinum Ltd., where he most recently held the post of Head Mining Technical Services. Chris is also an alumnus of Anglo American Plc's Gold & Uranium Division and AngloGold Ltd., where he served latterly as general manager of deep gold mining operations in the Free State between 1997 and 2001. Chris holds a Bsc in Mining Engineering from the University of the Witwatersrand, and also completed an Advanced Management Programme at Harvard Business School and a Management Development Programme at the University of South Africa.

Albert Garner

Mr. Albert Garner Non-Executive Independent Director of the Company. He has extensive experience in capital markets, corporate finance and mergers and acquisitions having worked with Lazard Frères & Co., LLC for 35 years in various leadership positions. He is one of the most senior bankers at Lazard, currently leading their special committee practice and chairing their fairness opinion committee. He formerly led Lazard’s corporate finance practice. Albert became a general partner in 1989 and is now Vice Chair – US Investment Banking. Over the past 10 years he has advised and acted as lead adviser to more than 50 companies and their boards of directors on transformative transactions.

Rhidwaan Gasant

Mr. Rhidwaan Gasant is Non-Executive Independent Director of the Company. He is the former Chief Executive Officer of Energy Africa Limited, and sits on the boards of international companies and chairs the Audit and Risk Committees of international companies in the MTN Group. He is currently Chief Executive Officer of Rapid African Energy Holdings, a start-up oil and gas exploration company, focused on Africa.

David Hodgson

Mr. David Lancaster Hodgson Non-Executive Independent Director of the Company. He is formerly held a series of senior and executive positions over three decades with the Anglo American and De Beers group of companies, and also held the post of Chief Operating Officer of AngloGold Ashanti from November 2001 through to his retirement in April 2005. In addition, he has held non-executive directorships at Moto Gold Mines Limited, Uranium One Inc., Goliath Gold Mining Limited, Auryx Gold Corporation, Montero Mining and Exploration Limited, and Acacia Mining.

Nozipho January-Bardill

Ms. Nozipho Patricia January-Bardill is Non-Executive Independent Director of the Company. She was an Executive Director, Corporate Affairs and spokesperson of the MTN Group where she also served on the boards of a number of operations in the MTN footprint. She is a former South African Ambassador to Switzerland, Lichtenstein and the Holy See, and former Deputy Director General, Human Capital Management and Head of the Foreign Service Institute in the then Department of Foreign Affairs (now DIRCO). She is currently the founder and executive director of Bardill & Associates, a consulting company focusing on strategic communications, high-level government relations, stakeholder management and gender equality in the workplace. She serves on the board of Credit Suisse Securities, Johannesburg and is also a member of the United Nations Expert Committee on the Elimination of Racial Discrimination and was recently appointed Interim Chief of Staff of UN Women in New York.

Michael Kirkwood

Mr. Michael James Kirkwood is Non-Executive Independent Director of the Company. He is a highly experienced and respected former international banker, having worked at the highest levels of Citigroup during his 30-year career with the bank. He is currently chairman of Circle Holdings PLC and a senior adviser (former chairman) of Ondra Partners LLP. He formerly served on the boards of Kidde plc, UK Financial Investments Ltd, Eros International plc and as deputy chairman on PwC’s Advisory Board. He also previously served as chairman of British American Business Inc., as president and a fellow of The Chartered Institute of Bankers and as deputy chairman of the British Bankers Association.

Maria Richter

Ms. Maria C. Richter is Non-Executive Independent Director of the Company, effective 1 January 2015. She is an experienced FTSE 100 non-executive director who has served on a diverse range of UK and International boards. She previously served on the board of National Grid plc in the UK from 2003 to July 2014 where she was the chairperson of the finance committee and member of the audit and nominations committees. She currently sits on the boards of Rexel Group, France, a global leader in the professional distribution of energy products and services, and Bessemer Trust, a US wealth management company, and is a member of the audit and compensation committees of Rexel and the remuneration committee of Bessemer Trust. She also serves on the board of Pro Mujer International, a women’s microfinance network and is chairman of the board of trustees of Pro Mujer UK. Maria’s professional career spanned 1980 to 2002 during which time she served in various positions at the former Dewey Ballantine, Prudential, Salomon Brothers Inc. and Morgan Stanley & Co.

Rodney Ruston

Mr. Rodney John Ruston is Non-Executive Independent Director of the Company. He holds a degree in mining engineer and an MBA and has over 35 years of business experience during which he has led private and publicly-listed companies in the resources, oil and gas and construction industries. His international experience as the chief executive of a heavy construction supply contractor coupled with chief executive roles with operating resource companies provides the board with a broad based director, who can provide insight and advice on the full range of domestic and international activities in the AngloGold Ashanti business. Rodney is currently the chief executive of County Coal Limited, a start-up Australian listed company, which he joined in July 2012. He was previously chief executive officer and President of North American Energy Partners Inc., a large Canadian mining and construction contracting company, which he took public with a listing on the NYSE and the TSX. Prior to that he was managing director of Ticor Ltd, an Australian-based titanium producer with operations in Australia and South Africa.

Stewart Bailey

Basic Compensation

Name Fiscal Year Total

Sipho Pityana

411,250

Srinivasan Visvanathan

24,333,000

Lumkile Nkuhlu

260,250

Christine Ramon

13,081,000

Charles Carter

24,344,000

Maria Perez

10,514,000

Italia Boninelli

10,604,000

Graham Ehm

17,928,000

David Noko

12,463,000

Ron Largent

36,699,000

Chris Sheppard

6,518,000

Albert Garner

--

Rhidwaan Gasant

188,000

David Hodgson

125,000

Nozipho January-Bardill

187,000

Michael Kirkwood

263,000

Maria Richter

--

Rodney Ruston

240,000

Stewart Bailey

--
As Of  30 Dec 2015