The CEO and CFO for AngloGold Ashanti have both exercised options to buy stock in their company. CEO, Mark Cutifani exercised 65,293 options and CFO Srinivasan Venkatakrishnan excercised 70,375. These options were granted between 2007 and 2009 for each gentleman so they have been with the company for a few years now and have, presumably, added value to the company. After selling shares to pay taxes and selling costs (that’s right, they sold shares to cover the cost of buying the shares) and using a conversion rate of 8.21285 Rand to the US Dollar, the Chief Executive Officer walked away with $1.67 million and the Chief Financial Officer made a cool $1.36 million. Did these two individuals really add three million dollars of value to the company over the last four years?
Shareholders are obviously happy with the growth of the company or these gentlemen would not still be working for AngloGold, but do they know how much less I would be willing to do the job for?