2 May 1958|
|Alma mater||University of Wollongong|
|Title||Chief executive of Anglo American|
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.
Early life and education
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 months 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%.
In January 2013 it was announced that Cutifani would become the new chief executive of Anglo American plc, starting his new role on 3 April 2013, replacing Cynthia Carroll. In April 2016, Anglo American PLC's shareholders rejected the pay package for Cutifani, indicating disappointment over the organization's restructure plan.
Cutifani is currently the Chair of the International Council on Mining and Metals, currently as a Director having been the Chairman of South Africa’s Chamber of Mines between 2012 and 2013 He is also a member of the International Advisory Committee for the Kellogg Innovation Network, a member of the Mining & Metals Steering Board and Governor of the Mining and Metals Industry Programme for the World Economic Forum. Cutifani is also a member of the Advisory Board for the Vale Columbia Centre on Sustainable International Investment and on the Board of Advisors for the Graduate School of Business at the University of Cape Town.
Cutifani has seven children from two marriages.
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- Patterson, Scott (2016-04-21). "Anglo American Shareholders Reject Pay Package for CEO Mark Cutifani". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-07-30.
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- http://www.cbetta.com/director/mark-cutifani Mark Cutifani works at THE INTERNATIONAL COUNCIL ON MINING AND METALS LIMITED since 30 January 2013
- Cutifani new Chamber of Mines president Mining Weekly, published 6 November 2012; accessed: 6 May 2014
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- UOW honors its 'magnificent seven' University of Wollongong, accessed: 6 May 2014