Tito Mboweni resigns from Anglogold Ashanti

2014-02-17 14:56

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Former SA Reserve Bank governor Tito Mboweni has stepped down as chairperson of AngloGold Ashanti, says the company.

“As a result of his increasing portfolio of professional commitments, Mboweni has decided not to stand for re-election as non-executive director at the annual general meeting to be held in May 2014,” the company said today.

Mboweni said he had left the company fundamentally stronger, stable and focused.

He said: “It’s been a privilege to help establish such a firm foundation for the company alongside an accomplished executive team and an experienced board.”

The company wished him well in his future endeavours and thanked him for his service over the past four years.

Sipho Pityana was elected to replace him. Mboweni had agreed to work closely with the new chairperson to ensure a smooth transition.

Pityana had been a non-executive director of AngloGold Ashanti for the past seven years. He was also chairperson of the company’s safety, health and environment committee.

He said: “I am honoured to follow Mboweni as chairman of AngloGold Ashanti. I will work closely with him over the coming months to ensure a seamless handover.”

Professor Wiseman Nkuhlu, who was chairperson of the audit and corporate governance committee, will assume the new role of lead independent director of the board.

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