SAINT SRINIVASAN
Srinivasan Venkatakrishnan, best known as Venkat, the CEO of South Africa’s biggest gold-mining company, the JSE- and NYSE-listed AngloGold Ashanti, has told his board of directors that he will not accept a salary increase or cash bonus this financial year. The boy from the St Don Bosco Matriculation School, a missionary school in India, clearly learnt something about self denial in his time there and also about helping the needy, as he is also digging into his own personal pocket to pay for the university education of up to five poor South Africans. Perhaps his wife Hamsa also deserves the sort of halo that Mining Weekly cartoonist Darlene has depicted as coming down from the heavens on to Venkat’s head. In Mining Weekly’s recent mining personality series, Venkat said under the heading of ‘pay’: “I am not motivated by money”, adding under the heading of ‘car’: “I do not like flashy cars.” He drives a four-year-old Mitsubishi Pajero. The market capitalisation of AngloGold Ashanti, the world’s third-largest gold producer, was $18-billion before the fall of the gold price, which wiped $10-billion off its board.
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