OWN CORRESPONDENT, Johannesburg | Monday
BOBBY Godsell has taken over the chairmanship of AngloGold in a move intended at bringing in-house understanding of the company to the role of chairman, Business Day reports.
Godsell will not leave his position as CEO of AngloGold, and will combine the role with that of executive chairman, the newspaper said.
Godsell will take over from Nicky Oppenheimer, who is believed to have expressed an interest in relinquishing the role.
Russell Edey, a nonexecutive director of AngloGold since its restructuring, has been elected deputy chairman in a nonexecutive role.
Oppenheimer said: “In electing Bobby as chairman, the board has affirmed its support for the strategy developed by the company’s management team, and its confidence in the ability of the team to implement this strategy timeously and effectively.”
Godsell recently announced his resignation from the board of Stanbic because of business commitments, after being a nonexecutive director of Stanbic since 1997. He has been at the helm of AngloGold since its inception, having taken over the leadership of Anglo American’s gold division from Clem Sunter before the formation of AngloGold in June 1998.
While Godsell is viewed by many as one of the best managers in the industry, his lack of hands-on operational knowledge has been a concern of the investment community.
While Godsell’s vision and strategy to expand globally is paying off, the company has not been able to get to grips with some of its deep-level mines in SA. AngloGold is considering selling some of the operations, which it believes it will not be able to turn around.
Currently the task of looking at operational issues is left to Godsell, who gained experience at Anglo American’s labour division as a negotiator at a time when union politics were hostile and violent.
Godsell, because of his long-standing relationship with labour and human resources, says he considers it his task and mission to enhance the lives of his workers. He plans to have the company’s entire workforce literate.