Newmont Mining (NEM) to Appoint New CEO in March
Newmont Mining (NEM), the largest U.S.-based gold mining company and the world’s second-largest gold producer, announced that CEO Richard O’Brien will step down on March 1, 2013. Gary Goldberg, who joined Newmont in December 2011 and is the Company’s current President and Chief Operating Officer, will replace O’Brien.
Prior to his time at Newmont, Mr. Goldberg spent 30 years at Rio Tinto plc – including serving as President and CEO of Rio Tinto Minerals, a business group of the parent company, from 2006 to 2011.
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Mr. O’Brien has been at the helm of Newmont Mining since July 1, 2007 but has struggled to improve the Company’s operational performance, as evident by its disappointing share price performance. Since Obrien’s appointment, NEM has advanced by just 26.7%, compared to a 61.5% gain for the price of gold.
In early afternoon trading on Monday, shares of NEM fell by $0.84, or 1.8%, to $46.25 while COMEX gold futures rose by 0.4% to $1,719.95 per ounce.
2012-12-03 17:00:26
Source: http://www.goldalert.com/2012/12/newmont-mining-nem-to-appoint-new-ceo-in-march/
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