AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06)
ISIN No. ZAE000043485 - JSE share code: ANG
CUSIP: 035128206 - NYSE share code: AU
7 July 2014
NEWS RELEASE
AngloGold Ashanti Appoints Christine Ramon as Incoming CFO
(JOHANNESBURG - RELEASE) - AngloGold Ashanti is pleased to announce Christine
Ramon will be taking the post of Chief Financial Officer and Executive Director
of the Board, from October 1, 2014. She will replace Richard Duffy, who will
then step down from both the Board and Executive Committee.
The appointment of Ms. Ramon, a chartered accountant, follows a global search
by the Board of Directors, as indicated in our press release of May 21, 2013.
She was formerly the CFO at Sasol Limited, South Africa's largest publicly
traded energy and chemicals company, for seven years until September of last
year.
"Christine is a seasoned CFO with an impressive depth of experience, who will
lend an important dimension to our board and to the executive," Chairman Sipho
Pityana said. "We are also fortunate that we will be able to call on the
services of Richard Duffy, who brings almost three decades of experience in
mining and finance across a range of disciplines and jurisdictions to assist
with an orderly transition."
"We are extremely pleased to have someone of Christine's calibre, standing and
experience in this critical role as we continue to advance our strategy of
continuing to improve sustainable cash flow and returns," Chief Executive
Officer Srinivasan Venkatakrishnan said. "We are deeply grateful to Richard for
bridging the CFO role at an important time, and also for the outstanding work
he's done over the past 13 months, in helping fortify the balance sheet."
Ms. Ramon, is currently a non-executive director on the board of
Johannesburg-based telecommunications provider MTN Group, which has extensive
operations across emerging markets in Africa and the Middle East. She also
previously served on the board of South African state-owned transport company
Transnet and was an executive director of media and entertainment group Johnnic
Holdings Limited, among others.
Ms. Ramon is a member of the South African Institute of Chartered Accountants,
the Public Accountants' and Auditors Board and the Association for the
Advancement of Black Accountants of South Africa. She previously served as a
member of the Standing Advisory Committee to the International Accounting
Standards Board and currently serves as Deputy Chair of the Financial Reporting
Standards Council of South Africa.
About Christine Ramon
Kandimathie Christine Ramon, 47, received her BCompt degree from The University
of South Africa in 1988 and her BCompt Honours postgraduate degree from the
same institution the following year. She was admitted as a Chartered Accountant
the following year by the Public Accountants and Auditors' Board. Ms. Ramon
completed her articles at Coopers & Lybrand, where she worked from 1985 to
1994, in various positions and countries, including merger & acquisition work
in the extractive sector. She rose to the post of Audit Manager and also
received a secondment as the Deputy Finance Director to the Independent
Electoral Commission during South Africa's first democratic elections. Her
career has also spanned manufacturing and retail, as financial controller at
New Age Beverages, and media, where she held the posts of Finance Director and
later also Chief Executive Officer, of Johnnic Holdings Limited. Between 2006
and 2013, Ms. Ramon was CFO of Sasol, where she was an executive director and
member of the group executive committee. Sasol, listed in Johannesburg and New
York with a market capitalisation of about $35bn, has a suite of projects and
about 34,000 employees in various jurisdictions around the globe, including the
US, Canada, China, Uzbekistan and Qatar. She sat on the board of several Sasol
subsidiaries, and also held accountability for formulation and execution of
group organisational strategy, capital markets work, treasury and financing,
and also global taxation, among others. In 2007 Christine was nominated by the
World Economic Forum as a young global leader and between 2011 and 2013 served
as the Chair of the CFO Forum of South Africa.
ENDS
Contacts
Media
Chris Nthite +27 (0) 11 637 cnthite@anglogoldashanti.com
6388/+27 (0) 83
301 2481
Stewart Bailey +27 81 032 2563 / sbailey@anglogoldashanti.com
+27 11 637 6031#
General inquiries media@anglogoldashanti.com
Investors
Stewart Bailey +27 81 032 sbailey@anglogoldashanti.com
2563 / +27 11
637 6031
Sabrina Brockman (US & +1 (212) 858 sbrockman@anglogoldashanti.com
Canada) 7702 / +1 646
379 2555
Fundisa Mgidi (South +27 11 6376763 fmgidi@anglogoldashanti.com
Africa) / +27 82 821
5322
Certain statements contained in this document, other than statements of
historical fact, including, without limitation, those concerning the economic
outlook for the gold mining industry, expectations regarding gold prices,
production, cash costs, all-in sustaining costs, cost savings and other
operating results, return on equity, productivity improvements, growth
prospects and outlook of AngloGold Ashanti's operations, individually or in the
aggregate, including the achievement of project milestones, commencement and
completion of commercial operations of certain of AngloGold Ashanti's
exploration and production projects and the completion of acquisitions and
dispositions, AngloGold Ashanti's liquidity and capital resources and capital
expenditures and the outcome and consequences of any potential or pending
litigation or regulatory proceedings or environmental, health, and safety
issues, are forward-looking statements regarding AngloGold Ashanti's
operations, economic performance and financial condition. These forward-looking
statements or forecasts involve known and unknown risks, uncertainties and
other factors that may cause AngloGold Ashanti's actual results, performance or
achievements to differ materially from the anticipated results, performance or
achievements expressed or implied in these forward-looking statements. Although
AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements and forecasts are reasonable, no assurance can be
given that such expectations will prove to have been correct. Accordingly,
results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic, social and
political and market conditions, the success of business and operating
initiatives, changes in the regulatory environment and other government
actions, including environmental approvals, fluctuations in gold prices and
exchange rates, the outcome of pending or future litigation proceedings, and
business and operational risk management. For a discussion of such risk
factors, refer to AngloGold Ashanti's annual report on Form 20-F for the year
ended 31 December 2013 which was filed with the United States Securities and
Exchange Commission ("SEC") on 14 April 2014. These factors are not necessarily
all of the important factors that could cause AngloGold Ashanti's actual
results to differ materially from those expressed in any forward-looking
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undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, except to the
extent required by applicable law. All subsequent written or oral
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acting on its behalf are qualified by the cautionary statements herein. This
communication may contain certain "Non-GAAP" financial measures. AngloGold
Ashanti utilises certain Non-GAAP performance measures and ratios in managing
its business. Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, the reported operating results or cash flow from
operations or any other measures of performance prepared in accordance with
IFRS. In addition, the presentation of these measures may not be comparable to
similarly titled measures other companies may use. AngloGold Ashanti posts
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information is updated regularly. Investors should visit this website to obtain
important information about AngloGold Ashanti.
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa Reg No: 1944/017354/06
ISIN No. ZAE000043485 - JSE share code: ANG CUSIP: 035128206 - NYSE share code: AU
Website: www.anglogoldashanti.com