The Board of Directors of AngloGold Ashanti Limited has announced the appointment of Ms. Maria Ramos, an Independent Non-Executive Director as the chair of the Board with immediate effect, starting today, Tuesday, December 8, 2020.
This is according to a press release by AngloGold Ashanti and pronounced by the Ghana Stock Exchange today, indicating that Ms. Maria Ramos takes over from Sipho Pityana who has resigned from the Board.
In the statement issued, the Board further opined that it has taken notice of the significant contributions made by Mr. Pityana to the growth of the Company since his appointment as a member to the Board in 2007 and then subsequently, his appointment as chair in 2014.
“Mr. Pityana has chaired the Board over a time when AngloGold Ashanti has followed a clear strategy characterised by strict capital discipline and improved sustainability of its business. Safety has improved significantly over that period, with the first ever fatality-free year in the Company’s history, recorded in 2019.
“Since he assumed the role in February 2014, the Company’s debt has been reduced by more than 70% from internally generated funds, the portfolio simplified by the sale of shorter-life assets, and the Obuasi mine in Ghana redeveloped into a modern, long-life operation,” the statement revealed.
The Board further asserted that it is delighted to welcome the incoming chair, who has been a director of the Company since May 2019 adding that Ms. Maria Ramos brings to the role varied and exceptional experience in leadership roles across both the private and public sectors.
Giving some insights into the profile of Ms. Maria Ramos, the statement disclosed that currently she serves as chairman of the Remuneration and Human Resources Committee and is also a member of both the Social, Ethics and Sustainability Committee and Nominations Committee.
“Ms. Ramos has extensive commercial experience within the banking industry and has occupied prominent roles in South Africa. Most recently, Ms. Ramos served for 10 years as [Chief Executive Officer (CEO)] of the Absa Group, one of Africa’s largest banks, until her retirement in February 2019.
“Prior to that she was the Group Chief Executive of state-owned Transnet, the largest freight transport and logistics service provider in South Africa, for five years. This was after successfully serving as Director-General of the National Treasury for seven years, where she played a key role in transforming the Treasury into one of the most effective state departments in the post-apartheid administration,” the statement unveiled.
The press release finally stated that Ms. Ramos and the Board of Directors fully endorse the strategic direction of AngloGold Ashanti, and are supportive of the executive management team, led by Interim Chief Executive Officer (CEO) Christine Ramon, which is delivering on this long-term business strategy.
