– SOUTH AFRICA, Johannesburg – AngloGold Ashanti is pleased to announce Christine Ramon will be taking the post of Chief Financial Officer and Executive Director of the Board, from October 1, 2014.
She will replace Richard Duffy, who will then step down from both the Board and Executive Committee. The appointment of Ms. Ramon, a chartered accountant, follows a global search by the Board of Directors, as indicated in our press release of May 21, 2013. She was formerly the CFO at Sasol Limited, South Africa’s largest publicly traded energy and chemicals company, for seven years until September of last year.
“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. “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.”
“We are extremely pleased to have someone of Christine’s calibre, 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.”
Ms. Ramon, is currently a non-executive director on the board of Johannesburg-based telecommunications provider MTN Group, which has extensive operations across emerging markets in Africa and the Middle East. She also previously served on the board of South African state-owned transport company Transnet and was an executive director of media and entertainment group Johnnic Holdings Limited, among others. Ms. 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 and currently serves as Deputy Chair of the Financial Reporting Standards Council of South Africa.
About Christine Ramon
Kandimathie Christine Ramon, 47, received her BCompt degree from The University of South Africa in 1988 and her BCompt Honours postgraduate degree from the same institution the following year. She was admitted as a Chartered Accountant the following year by the Public Accountants and Auditors’ Board.
Ms. Ramon completed her articles at Coopers & Lybrand, where she worked from 1985 to 1994, in various positions and countries, including merger & acquisition work in the extractive sector. She rose to the post of Audit Manager and also received a secondment as the Deputy Finance Director to the Independent Electoral Commission during South Africa’s first democratic elections. Her career has also spanned manufacturing and retail, as financial controller at New Age Beverages, and media, where she held the posts of Finance Director and later also Chief Executive Officer, of Johnnic Holdings Limited. Between 2006 and 2013, Ms. Ramon was CFO of Sasol, where she was an executive director and member of the group executive committee. Sasol, listed in Johannesburg and New York with a market capitalisation of about $35bn, has a suite of projects and about 34,000 employees in various jurisdictions around the globe, including the US, Canada, China, Uzbekistan and Qatar.
She sat on the board of several Sasol subsidiaries, and also held accountability for formulation and execution of group organisational strategy, capital markets work, treasury and financing, and also global taxation, among others. In 2007 Christine was nominated by the World Economic Forum as a young global leader and between 2011 and 2013 served as the Chair of the CFO Forum of South Africa.
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