AngloGold CEO quits, joins Vedanta Resources

AngloGold Ashanti CEO Srinivasan Venkatakrishnan has resigned the company announced on Monday

AngloGold Ashanti said it's started looking for a new chief executive officer after Srinivasan Venkatakrishnan resigned to become CEO of Vedanta Resources.

Venkatakrishnan, who worked with AngloGold for 18 years and led it for five, will succeed interim CEO Kuldip Kaura, in the top job effective August 31, Vedanta said.

Venkatakrishnan has been with AngloGold for 18 years, five of which as CEO, when he oversaw the extensive restructuring of the company's assets, particularly those in SA where the company has a single underground mine and a tailings retreatment operation.

Kaura took over after former boss Tom Albanese left Vedanta in 2017.

It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.

Chairperson Sipho Pityana hailed the outgoing CEO for creating a culture of accountability within the mining firm, stating that a search was underway for his replacement.

Citigroup INC (C) Valuation Declined While Claar Advisors LLC Has Decreased Position
ValuEngine raised Citigroup from a "buy" rating to a "strong-buy" rating in a research note on Sunday, December 31st. Among 2 analysts covering Transense Technologies PLC ( LON:TRT ), 2 have Buy rating , 0 Sell and 0 Hold.

Vedanta is a London Stock Exchange-listed, diversified natural resources firm, with interests zinc, lead, silver, copper, iron ore, aluminium as well as oil and gas.

"He has proved his ability to deliver significant operating and financial improvements, while also ensuring important advances in sustainability".

For his part, the new man expressed: "I'm honoured to be working with the chairman, Anil Agarwal, and the board in leading the next phase of the group's development".

"This was all achieved whilst setting new benchmarks for safety performance and environmental stewardship, and without the issue of equity thereby avoiding dilution to shareholders", AngloGold Ashanti said in a statement.

"Venkat is a widely respected business leader in the global resources space, who brings to Vedanta an impressive set of values and a wealth of experience in corporate and other roles", Agarwal said in a statement.

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