TITO MBOWENI APPOINTED CHAIRMAN OF ANGLOGOLD ASHANTI
AngloGold Ashanti is pleased to announce the appointment of Tito Mboweni as chairman of the company with effect from 1 June 2010. Mr Mboweni succeeds Russell Edey who retires after eight years as chairman, and a member of the board since AngloGold's inception in 1998.
In appointing Mr Mboweni, the board took full cognisance of his long and outstanding record of public service. As Labour Minister from 1994 to 1998, Mr Mboweni was architect of South Africa's post-apartheid labour legislation which today continues to provide the basis for the mutually respectful labour relationships central to AngloGold Ashanti's operational approach in South Africa. And the past ten years have cemented his reputation as one of the world's foremost and highly respected Central Bank governors.
Comments Mr Edey: "I am absolutely thrilled to be succeeded by Tito Mboweni. His standing in international business and financial circles, and his clear identification with the values upon which AngloGold Ashanti is built, is all that our company could have asked for."
Says CEO Mark Cutifani: "We're very pleased to be able to name someone of Tito Mboweni's calibre to chair our board. His experience and stature, both in South Africa and abroad, is a tremendous asset to a company with AngloGold Ashanti's global portfolio and project pipeline, as well as our international shareholder base."
Mr Cutifani also paid tribute to Russell Edey's service to AngloGold Ashanti: "Since joining the company in 2007, I have greatly appreciated Russell's support and backing. He provided continuity during a time of change and during a challenging period for the global economy, during which we successfully executed our hedge reductions and balance sheet restructuring. His vision, clear thinking and integrity have provided the company with a solid governance platform on which to execute our strategy. We wish him all the best for the future."