Tito Mboweni Appointed Chairman of AngloGold Ashanti
24 February 2010 - 9:45PM
Marketwired
TITO MBOWENI APPOINTED CHAIRMAN OF ANGLOGOLD ASHANTI (NYSE: AU)
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."
Certain statements made in this communication, including, without
limitation, those concerning AngloGold Ashanti's strategy to reduce its
gold hedging position including the extent and effects of the reduction,
the economic outlook for the gold mining industry, expectations regarding
gold prices, production, cash costs and other operating results, growth
prospects and outlook of AngloGold Ashanti's operations, individually or
in the aggregate, including the completion and commencement of commercial
operations of certain of AngloGold Ashanti's exploration and production
projects and completion of acquisitions and dispositions, AngloGold
Ashanti's liquidity and capital resources, and expenditure and the outcome
and consequences of any pending litigation proceedings, contain certain
forward-looking statements regarding AngloGold Ashanti's operations,
economic performance and financial condition. Although AngloGold Ashanti
believes that the expectations reflected in such forward-looking
statements 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 and market conditions, success
of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and
exchange rates, and business and operational risk management. For a
discussion of such factors, refer to AngloGold Ashanti's annual report for
the year ended 31 December 2008, which was distributed to shareholders on
27 March 2009 and the company's annual report on Form 20-F, filed with the
Securities and Exchange Commission in the United States on May 5, 2009 as
amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to
update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after today's date or to
reflect the occurrence of unanticipated events. All subsequent written or
oral forward-looking statements attributable to AngloGold Ashanti or any
person acting on its behalf are qualified by the cautionary statements
herein.
AngloGold Ashanti posts information that is important to
investors on the main page of its website at
www.anglogoldashanti.com and under the "Investors" tab on the main
page. This information is updated regularly. Investors should visit
this website to obtain important information about AngloGold
Ashanti.
Contacts Alan Fine (Media) Tel: +27 (0) 11 637 6383 Mobile: + 27
(0) 83 325 0757 E-mail: Email Contact Joanne Jones (Media) Tel: +27
(0) 11 637 6813 Mobile: +27 (0) 82 896 0306 E-mail: Email Contact
Sicelo Ntuli (Investors) Tel: +27 (0) 11 637-6339 Mobile: +27 (0)
71 608 0991 E-mail: Email Contact Stewart Bailey (Investors) Tel:
+1 212 836 4303 Mobile: +1 646 338 4337 E-mail: Email Contact
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