Kelvin Dushnisky will step down as CEO of AngloGold Ashanti, effective September 1.
He will remain in Toronto, Canada, to spend time with his family but will be available to assist the group with a smooth handover until February 28, 2021.
“I would like to thank Kelvin for his role in advancing our strategy, and wish him the very best for the future.
"AngloGold is well positioned to further improve returns for shareholders, through improved operational performance and our rigorous approach to capital allocation,” comments chairperson Sipho Pityana.
AngloGold states that Dushnisky is leaving the company 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, the company’s two high-quality Colombia projects progressing through feasibility study stage and initiatives to increase reserve life at key assets, progressing well, the company noted.
While the company embarks on a recruitment process to appoint a successor to Dushnisky, CFO Christine Ramon will serve as interim CEO.
Ramon will assume the role on September 1.
The recruitment process will be designed to search for candidates with strong leadership skills and relevant industry experience, as well as values which are aligned with AngloGold Ashanti’s.
Ian Kramer, currently senior VP for group finance, will assume the role of interim CFO for the duration of the transition period.
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.