July 23, 2018 / 5:54 PM / in 2 years

UPDATE 1-Barrick Gold President Dushnisky to head AngloGold

(Adds background, shares)

July 23 (Reuters) - Canadian miner Barrick Gold Corp said on Monday President Kelvin Dushnisky will step down to become the chief executive officer of South African rival AngloGold Ashanti Ltd.

Dushnisky, 54, was appointed to the top job at Barrick in 2015.

He will step down by August end and will replace AngloGold's CEO Srinivasan Venkatakrishnan, who resigned in April to head mining conglomerate Vedanta Resources Plc. (reut.rs/2JT1Fm8)

Shares of the company fell 2.8 percent to $15.8 on the Toronto Stock Exchange.

Barrick, the world’s largest producer of bullion, in March cut 2017 compensation for its top two executives, including Dushnisky’s, to reflect a challenging “shareholder experience” and operations at some mines.[ nL1N1R527W]

Barrick Gold is slated to report its second-quarter earnings on July 25 after markets close. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar and Anil D’Silva)

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