Anglogold Ashanti Appoints New Chief Financial Officer

South African miner Anglogold Ashanti has announced the appointment of new chief financial officer Christine Ramon.

She will replace Richard Duffy, who is stepping down from both the Board and Executive Committee, as both CFO and Executive Director of the Board effective October 1. 

"Christine is a seasoned CFO with an impressive depth of experience, who will lend an important dimension to our board and to the executive," Chairman Sipho Pityana said in a press release.

He added, "We are also fortunate that we will be able to call on the services of Richard Duffy, who brings almost three decades of experience in mining and finance across a range of disciplines and jurisdictions to assist with an orderly transition.”

Ramon is currently non-executive director of telecommunications provider MTN Group, which has provided a vast experience in operations across emerging markets in Africa and the Middle East.

"We are extremely pleased to have someone of Christine's caliber, standing and experience in this critical role as we continue to advance our strategy of continuing to improve sustainable cash flow and returns," Chief Executive Officer Srinivasan Venkatakrishnan said.

"We are deeply grateful to Richard for bridging the CFO role at an important time, and also for the outstanding work he's done over the past 13 months, in helping fortify the balance sheet,” Venkatakrishnan said.

Aside from newly appointed CFO, Ramon is a member of the South African Institute of Chartered Accountants, the Public Accountants’ and Auditors Board, and the Association for the Advancement of Black Accountants of South Africa.

She previously served as a member of the Standing Advisory Committee to the International Accounting Standards Board.

Between 2006 and 2013, Ramon was an executive director for Salsol Limited, a $35 billion company with over 34,000 employees around the world.