AngloGold Ashanti appoints Barrick’s Kelvin Dushnisky as CEO
The company has replaced departing CEO Srinivasan Venkatakrishnan with the president of the world’s number one gold producer
AngloGold Ashanti has chosen Kelvin Dushnisky, president of the world number one gold producer Barrick Gold Corporation, to replace departing CEO Srinivasan Venkatakrishnan, looking outside the company for someone to manage its strategy to invest outside its SA home base Dushnisky takes over the world’s third biggest gold miner by production on September 1, while Venkatakrishnan joins Indian miner Vedanta as CEO.
Dushnisky joins AngloGold shortly after the group reduced its South African footprint to one underground mine and a tailings retreatment project, favouring investments outside SA. "Following AngloGold’s SA shake-up at the end of last year … now with the appointment of Dushnisky, we reiterate our view that AngloGold will pursue an exit strategy in the medium term," Macquarie analyst Yatish Chowthee said in a note. "Retrospectively, AngloGold has not matched up to its global peers, that is Barrick, Newmont, Newcrest and Goldcorp, from a rating perspective. Although bein...