[miningmx.com] – IN his perhaps his first major decision as CEO, AngloGold Ashanti’s Srinivasan Venkatakrishnan (Venkat) has streamlined his executive team with particular emphasis on consolidating operational management under two joint chief operating officers.
Mike O’Hare will have responsibility for the South African operations while Ron Largent assumes control of mines in all other districts, a development that sees Charles Carter became responsible for strategy and business development. Carter will also deputise for Venkat in the latter’s absence.
Venkat, who vacated the CFO’s role last month, will be replaced by Richard Duffy who was previously managing the continental Africa mines in the AngloGold Ashanti portfolio.
All in all, the executive team has been narrowed to a team of nine from 12 previously, and would be completed by the third quarter.
Said Venkat: “These leadership changes … will ensure a seamless transition period as the business is reorganised and management continues to act aggressively on its strategy to maximise sustainable free cash flow from a high quality portfolio, while maintaining the integrity of the business, which is especially important in these difficult times.”
