Mark Cutifani
| Mark Cutifani | |
|---|---|
| Born |
2 May 1958 Wollongong, Australia |
| Nationality | Australia |
| Alma mater | University of Wollongong |
| Occupation | Businessman |
| Title | Chief executive of Anglo American |
| Term | 2013–present |
| Predecessor | Cynthia Carroll |
| Successor | Incumbent |
Mark Cutifani (born 2 May 1958) is an Australian businessman and the current chief executive of diversified mining group, Anglo American plc. He was formerly CEO of South African gold mining company AngloGold Ashanti, a position he held from October 2007 until March 2013.
Cutifani was born and grew up in Wollongong, Australia. After leaving high school in 1976, he joined Coal Cliff colliery and enrolled in the University of Wollongong to complete a degree in Mining Engineering. He graduated in 1982, top of his class.
After working for Coal Cliff, he joined Kalgoorlie Gold Mines, the Western Mining Corporation, Normandy Mining and Sons of Gwalia. He became the managing director of Sons of Gwalia in March 2000, but resigned from his position on 14 February 2003, in a surprise move, to join Inco Limited in Sudbury, Canada. The Sons of Gwalia company entered administration 16-month later, in August 2004, following a financial collapse, with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.
In 2007, Cutifani left Inco Limited, where he held the position of chief operating officer. On 17 September 2007, he joined AngloGold Ashanti, as a director of the company and was appointed CEO on 1 October that year. Cutifani was credited with dismantling AngloGold Ashanti's significant and toxic hedge book, allowing the company to benefit fully from the much higher gold spot price.
Shortly after joining AngloGold Ashanti, Cutifani introduced a campaign called "Safety is our first value". Research into the 2007 fatalities at the company had shown that 70% of the fatalities were caused by sub-standard operations or actions. Cutifani aimed to reduce the number of fatalities by changing the company's culture and improving communication, citing legacy issues from the past as a main cause for the fatalities. During his tenure, the fatality rate was reduced by 50%.
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