AGD Anglogold Ash

 
TIDMAGD 
 
AngloGold Ashanti Limited 
 
(Incorporated in the Republic of South Africa  Reg. No. 1944/017354/06) 
 
ISIN No. ZAE000043485 - JSE share code: ANG  CUSIP: 035128206 - NYSE share 
code: AU 
 
Website: www.anglogoldashanti.com 
 
News Release 
 
17 February, 2014 
 
AngloGold Ashanti Announces Changes to the Board of Directors 
 
(ANGLOGOLD ASHANTI - Press Release) AngloGold Ashanti announces that as a 
result of his increasing portfolio of professional commitments, Mr. Tito 
Mboweni has decided not to stand for re-election as Non-Executive Director at 
the Annual General Meeting to be held in May, 2014. Mr. Mboweni has stood down 
as Chairman today, but to ensure a smooth transition has agreed to work closely 
with the new Chairman, Mr. Sipho Pityana, who was elected unanimously by the 
Board today. 
 
Mr. Pityana, a non-executive director of AngloGold Ashanti for the past seven 
years, is also the chairperson of the company's Safety, Health and Environment 
Committee and a member of other Board committees. 
 
"I am honoured to follow Mr Mboweni as Chairman of AngloGold Ashanti," Mr 
Pityana said. "I will work closely with him over the coming months to ensure a 
seamless handover." 
 
Professor Wiseman Nkuhlu, who has served on the Board since August 2006, and is 
currently Chairman of the Audit and Corporate Governance committee, will assume 
the new role of Lead Independent Director of the Board. Professor Nkuhlu also 
serves on a number of other Board committees. 
 
Mr Mboweni's decision to step down comes after a period of sustained 
improvement from AngloGold Ashanti, which has rebased its cost structure in 
response to a dramatically lower gold price, whilst improving the quality of 
its asset base with the commissioning of two new gold mines, together with 
selected asset disposals. 
 
"I leave AngloGold Ashanti as a fundamentally stronger, stable and focused 
business," Mr Mboweni 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, all of whom continue to work diligently in the best 
interests of the business. I am pleased that Mr Pityana is succeeding me in 
this role and I wish him the very best." 
 
AngloGold Ashanti's Board of Directors and members of the Executive Committee 
would like to wish Mr Mboweni well in his future endeavours and thank him for 
his service over the past four years. Mr Mboweni's guidance has been 
invaluable, particularly in navigating a time of intensive restructuring and 
refocus, given the sharp drop in the gold price, and in helping facilitate the 
smooth transition in executive leadership in early 2013. 
 
"Mr Mboweni has overseen the transition of leadership at AngloGold Ashanti 
during a challenging business environment," Chief Executive Officer Srinivasan 
Venkatakrishnan (Venkat) said. "I'd like to thank him for his contribution to 
AngloGold Ashanti, and on behalf of the Executive Committee, wish him all 
success in his future endeavours." 
 
Speaking about the incoming Chairman, Venkat said: "Mr. Pityana, in addition to 
leading our safety and sustainability focus on the Board with distinction has a 
deep understanding of all other aspects of the business. He is fully supportive 
of our strategy to generate growth in free cash flow as we continue to lift the 
company's performance, and brings to the role considerable broad experience and 
vision. We look forward to working with Mr. Pityana in his new role as the 
Chairman of the Board". 
 
Further Information 
 
MR TT MBOWENI 
 
BA (National University of Lesotho), MA - Development Economics (University of 
East Anglia, Norwich, UK) 
 
Independent Non-Executive Director 
 
Tito Mboweni was appointed to the board and as Chairman of AngloGold Ashanti on 
1 June 2010. He is chairperson of the Nominations Committee and is a member of 
the Investment, Remuneration and Human Resources, Financial Analysis and Party 
Political Donations committees. He has a long and outstanding record of public 
service. As Labour Minister from 1994 to 1998, Mr Mboweni was the architect of 
South Africa's post-apartheid labour legislation which today continues to 
provide the basis for the mutually respectful labour relationships central to 
AngloGold Ashanti's operational approach in South Africa. He was the eighth 
Governor of the South African Reserve Bank from 1999 to 2009, and Chancellor of 
the University of the North from 2002 to 2005. He is also non-executive 
chairman of Nampak Limited and SacOil Holding Ltd., a non-executive director of 
Discovery Ltd. and an international adviser to Goldman Sachs. Mr Mboweni is a 
founder member of Mboweni Brothers Investment Holdings. He is also chairman of 
the fund raising committee of the Nelson Mandela Children's Hospital and a 
trustee and is a member of the council of advisers of the Thabo Mbeki 
Foundation. 
 
MR SM PITYANA 
 
BA (Hons) (Essex), MSc (London); Dtech (Honoris)(Vaal University of Technology) 
 
Chairman and Non-Executive Director 
 
Sipho Mila Pityana is a senior director having joined the board of AngloGold 
Ashanti in February 2007. He is the chairman of the Safety, Health and 
Environment Committee. During his tenure the company has made tremendous 
progress in all these aspects of its SHE work, bringing workplace fatalities 
from 34 in 2007 to eight in 2013, with all injuries showing a similar marked 
decline. Critical health programmes including those dealing with TB, HIV/AIDS 
and Malaria received focused attention under his guidance, resulting in reduced 
incidence of these diseases. He was previously the Chairman of the Board's 
Remuneration Committee as well as the Sustainability Committee. 
 
Mr Pityana has extensive business experience having served in both an executive 
and non-executive capacity on several JSE listed boards of companies as well as 
running his own company which he chairs, Izingwe Capital. He is Chairman of the 
JSE listed Onelogix and of Munich Reinsurance of Africa. He also served on the 
boards of Bytes Technology Group, AFROX, SPESCOM and the Old Mutual Leadership 
Group. He previously worked as the Executive Director of Nedcor Investment Bank 
and Managing Director of Nedbank. He is also a director of a number of 
manufacturing companies including Scaw Metals and Aberdare Cables. 
 
In addition to his private sector track record, Mr Pityana has extensive public 
sector experience and international exposure. He was the first Director General 
of Department of Labour in a democratic South Africa. As the Foreign Affairs 
Director General he represented South Africa in various international fora 
including the United Nations, African Union, Commonwealth and the International 
Labour Organisation. He was one of the founding members of the governing body 
of the CCMA and Convenor of the government delegation to NEDLAC. 
 
PROF LW NKUHLU 
 
BCom, CA (SA), MBA (New York University) 
 
Independent Lead Director 
 
Wiseman Nkuhlu was appointed to the board on 4 August 2006. He is the chairman 
of the Audit and Corporate Governance Committee and also serves as a member of 
the Financial Analysis; Risk and Information Integrity; Safety, Health and 
Sustainable Development; Nominations, Party Political Donations; and the 
Remuneration and Human Resources committees. Prof Nkuhlu, a respected South 
African academic, educationist, professional and business leader, served as 
Economic Adviser to the former President of South Africa, Mr Thabo Mbeki, and 
as Chief Executive of the Secretariat of the New Partnership for Africa's 
Development (NEPAD) from 2000 to 2005. From 1989 to 2000, he served as a 
director on a number of major South African companies, including Standard Bank, 
South African Breweries, Old Mutual, Tongaat Hulett, BMW and JCI. Prof Nkuhlu 
was President of the South African Institute of Chartered Accountants from 1998 
to 2000 and Principal and Vice Chancellor of the University of Transkei from 
1987 to 1991. He is also a member of the board of Datatec Limited. He was 
elected President of the Geneva-based International Organization of Employers 
(IOE) in May 2008 for a period of two years. He is a Trustee of the 
International Financial Accounting Standards Foundation. 
 
ENDS 
 
__________________________________________________________________________________________________________________ 
 
Contacts 
 
Media 
 
Chris Nthite      +27 (0) 11 637 6388/+27 (0)   cnthite@anglogoldashanti.com 
                  83 301 2481 
 
Stewart Bailey    +27 81 032 2563 / +27 11 637  sbailey@anglogoldashanti.com 
                  6031 
 
General inquiries                               media@anglogoldashanti.com 
 
Investors 
 
Stewart Bailey    +27 81 032 2563 / +27 11 637   sbailey@anglogoldashanti.com 
                  6031 
 
Sabrina Brockman  +1 (212) 858 7702 / +1 646 379 sbrockman@anglogoldashanti.com 
(US & Canada)     2555 
 
Fundisa Mgidi     +27 11 6376763 / +27 82 821    fmgidi@anglogoldashanti.com 
(South Africa)    5322 
 
General inquiries investors@anglogoldashanti.com 
 
Certain statements contained in this document, other than statements of 
historical fact, including, without limitation, those concerning the economic 
outlook for the gold mining industry, expectations regarding gold prices, 
production, cash costs, cost savings and other operating results, return on 
equity, productivity improvements, growth prospects and outlook of AngloGold 
Ashanti's operations, individually or in the aggregate, including the 
achievement of project milestones, commencement and completion of commercial 
operations of certain of AngloGold Ashanti's exploration and production 
projects and the completion of acquisitions and dispositions, AngloGold 
Ashanti's liquidity and capital resources and capital expenditures and the 
outcome and consequence of any potential or pending litigation or regulatory 
proceedings or environmental issues, are forward-looking statements regarding 
AngloGold Ashanti's operations, economic performance and financial condition. 
These forward-looking statements or forecasts involve known and unknown risks, 
uncertainties and other factors that may cause AngloGold Ashanti's actual 
results, performance or achievements to differ materially from the anticipated 
results, performance or achievements expressed or implied in these 
forward-looking statements. Although AngloGold Ashanti believes that the 
expectations reflected in such forward-looking statements and forecasts are 
reasonable, no assurance can be given that such expectations will prove to have 
been correct. Accordingly, results could differ materially from those set out 
in the forward-looking statements as a result of, among other factors, changes 
in economic, social and political and market conditions, the success of 
business and operating initiatives, changes in the regulatory environment and 
other government actions, including environmental approvals, fluctuations in 
gold prices and exchange rates, the outcome of pending or future litigation 
proceedings, and business and operational risk management. For a discussion of 
such risk factors, refer to the prospectus supplement to AngloGold Ashanti's 
prospectus dated 17 July 2012 that was filed with the United States Securities 
and Exchange Commission ("SEC") on 26 July 2013. These factors are not 
necessarily all of the important factors that could cause AngloGold Ashanti's 
actual results to differ materially from those expressed in any forward-looking 
statements. Other unknown or unpredictable factors could also have material 
adverse effects on future results. Consequently, readers are cautioned not to 
place undue reliance on forward-looking statements. AngloGold Ashanti 
undertakes no obligation to update publicly or release any revisions to these 
forward-looking statements to reflect events or circumstances after the date 
hereof or to reflect the occurrence of unanticipated events, except to the 
extent required by applicable law. All subsequent written or oral 
forward-looking statements attributable to AngloGold Ashanti or any person 
acting on its behalf are qualified by the cautionary statements herein. 
 
This communication may contain certain "Non-GAAP" financial measures. AngloGold 
Ashanti utilises certain Non-GAAP performance measures and ratios in managing 
its business. Non-GAAP financial measures should be viewed in addition to, and 
not as an alternative for, the reported operating results or cash flow from 
operations or any other measures of performance prepared in accordance with 
IFRS. In addition, the presentation of these measures may not be comparable to 
similarly titled measures other companies may use. AngloGold Ashanti posts 
information that is important to investors on the main page of its website at 
www.anglogoldashanti.com and under the "Investors" tab on the main page. This 
information is updated regularly. Investors should visit this website to obtain 
important information about AngloGold Ashanti. 
 
 
 
END 
 

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