Ethics and governance

Leadership and governance

AngloGold Ashanti remains committed to the highest standards of corporate governance. Corporate governance is the responsibility of the Board of Directors as a whole, with some authority delegated to the Audit and Corporate Governance Committee of the board and the management Disclosure Committee.

The board is guided by the company’s founding statements, the board charter, the company’s legal obligations in terms of the South African Companies Act of 1973 (as amended), the US Sarbanes-Oxley Act of 2002 (SOx), the company’s legal and disclosure obligations to the JSE (where it holds its primary listing), as well as various corporate governance guidelines, such as the King Code on Corporate Governance 2002 (King Code). A Code of Ethics for the chief executive officer, the chief financial officer and senior financial officers also guide conduct. (These codes and documents are available on the company's website).

Various other legislative and governance standards also guide the company’s legal and disclosure obligations. Management takes day-to-day responsibility for corporate governance and regularly reports to the board and various committees of the board. The board chairman plays an active role in the corporate governance issues faced by the company, interacting regularly with executive directors, senior management and other interested parties, when necessary.

In line with JSE Listings Requirements, the company discloses its compliance in terms of corporate governance with the King Code and explains any areas of non-compliance. The King Code is a set of guidelines to companies aimed at ensuring good governance by both the board and management. AngloGold Ashanti again complied with all material aspects of the King Code and SOx in 2008.

Corporate governance is dealt with extensively in AngloGold Ashanti’s Annual Financial Statements.