World’s No. 3 Gold Miner Asked CEO to Leave After Fund Pressure – by Felix Njini, Loni Prinsloo and Thomas Biesheuvel (Bloomberg News – July 31 2020)

(Bloomberg) — AngloGold Ashanti Ltd.’s chief executive officer was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer that he didn’t initially disclose, according to people familiar with the matter.

The mining company announced on Thursday that Kelvin Dushnisky would step down after only two years.

That followed a demand from a major shareholder, South Africa’s Public Investment Corp., for an independent probe into a payment of $926,000 from Barrick Gold Corp., according to the people, who asked not to be identified as the details aren’t public.

The world’s third-largest gold miner hired Dushnisky from Barrick to steer a new growth path, and under his management he started to the sell mines in South Africa and Mali.

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