Barrick Gold (TSX: ABX; NYSE: ABX) president Kelvin Dushnisky is leaving the company at the end of August to join AngloGold Ashanti (NYSE: AU) as CEO.
Dushnisky joined Barrick in 2002 and held a range of progressively senior positions at the company before his appointment as president in 2015.
A lawyer by training, Dushnisky joined Barrick’s board of directors in early 2016.
The gold major said it will announce a successor in due course, but within hours of the announcement, industry observers started guessing who will take the number two spot at the company.
“If we dare speculate, we are of the view that Executive Vice President & CFO Catherine Raw is the leading internal candidate,” BMO’s Andrew Kaip, ventured in a research note.
Raw joined Barrick in May 2015 as executive vice-president for business performance before rising to the position of chief financial officer in April 2016.
Raw told The Northern Miner earlier this year that her strategy for corporate success was simple: “Manage risk, focus on returns and remember mining is about playing the long game.”
Since 2015, Dushnisky has held direct responsibility for the company’s overall business and the execution of its operating plans and strategic priorities, including oversight of Barrick’s activities across Australia, Africa, the Middle East, North America and South America. He also held responsibility for the gold company’s relationships with governments, local communities and other external stakeholders.
“Following an extremely competitive global search, we’re pleased to name someone of Kelvin’s calibre and experience to lead this organization,” AngloGold Ashanti chairman Sipho Pityana said in a news release. “Kelvin brings to us an impeccable set of values, a deep understanding of operating a large, complex global portfolio of mining assets and projects, and a keen familiarity of an evolving geopolitical landscape.”
Dushnisky will replace AngloGold Ashanti’s outgoing CEO, Srinivasan Venkatakrishnan, who is leaving the company to join Vedanta Resources.