AngloGold Ashanti’s new CEO, Kelvin Dushnisky, clearly sees an upside in the company’s share price, snapping up 50,000 of its American depositary receipts for R5.86m. The shares worth $386,584 were bought in four tranches over three days in New York between September 4 and 6, just days after the Canadian took up his new role at the world’s third-largest gold producer. A large purchase or sale of shares by a CEO and fellow executives is often seen as a signal of confidence or concern about the company. Confidence message Dushnisky was clearly sending the market a message just days into his tenure at the global mining company. The Canadian replaced Srinivasan Venkatakrishnan, who was appointed CEO of Indian diversified miner Vedanta Resources. If Dushnisky earns anything similar to his predecessor, the purchase would be equivalent to nearly half his annual salary of R13.3m in 2017 terms. Venkatakrishnan’s wage bill was R28.4m that year, including his R3.3m pension and R8.8m performanc...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.