Anglogold Ashanti to make changes at management level

Accra, March 18, GNA - Anglogold Ashanti Limited is to make changes at its top management level following notification by two of the executive officers to retire.

They are Chief Operating Officer Dave Hodgson and Chief Financial Officer Jonathan Best.

A statement from Anglogold Ashanti, one of the world's biggest mining companies, said Mr Best would be replaced by Mr Srinivasan Venkatakrishnan (Venkat), who was the Chief Financial Officer (CFO) of Ashanti Goldfields and had been serving as deputy CFO to the new company since May last year.

The statement said in the case of Mr Hodgson, Anglogold Ashanti intended to appoint Mr Neville Nicolau and Mr Roberto Carvalho Silva who are currently chief operating officers of the company's offices in Africa, the Americas and Australia respectively. The decision was taken in view of the large size of the company, which now has 21 operations in 10 countries on four continents, it explained.

The three would serve in their new capacities within their current geographical area of work and be appointed to the board of executive directors from May one 2005, while Mr Venkatakrishna would join the board from August.

In a tribute to the retiring officers, Mr Bobby Godsell, Chief Executive Officer said: "Dave (Hodgson) and Jonathan (Best) have made an invaluable contribution to this company over the last 10 years. "I am delighted that they have agreed to remain consultants to the company for at least their first year of retirement. In Venkat, Neville and Roberto, we are fortunate to have three experienced executives to assume these key roles."

The three retiring officers have each served more than 30 years in the various transitional stages of the Anglogold Ashanti.