Newmont Mining Corporation has put together an executive leadership team that will come into effect following the conclusion of its acquisition of Goldcorp – and will feature some of the industry’s best talent and most experienced mining executives known for superior operational execution, consistent project delivery and leadership in safety and sustainability CEO Gary Goldberg states.
“Going forward, Newmont Goldcorp will maintain its focus on the success and continuity of our business through strategic leadership development, building high performing teams, and robust succession planning,” says Tom Palmer, President and COO.
“This focus ensures that Newmont Goldcorp will maintain deep bench strength and top talent to effectively run our business, achieve competitive advantage and continue to deliver superior business results and long-term value for our shareholders and other stakeholders.”
The appointment of the mining leaders outlined below was based on a number of criteria including experience, team performance, and values-based leadership.
Newmont Goldcorp’s executive leadership team (reporting to Goldberg)
- Tom Palmer – President (effective 1 June)
- Rob Atkinson – Executive Vice President and COO (effective 1 June; reporting to Tom Palmer)
- Nancy Buese – Executive Vice President and CFO (no change)
- Jennifer Cmil – Executive Vice President, Human Resources (effective Q4, 2019)
- Randy Engel – Executive Vice President, Strategic Development (no change)
- Dean Gehring – Executive Vice President and Chief Technology Officer (effective 1 June)
- Steve Gottesfeld – Executive Vice President and Chief Sustainability and External Affairs Officer (effective 1 June)
- Nancy Lipson – Executive Vice President and General Counsel (effective 1 June)
- Marcelo Godoy – Senior Vice President, Exploration (no change)
Immediately upon closing of the transaction, Newmont will:
- Be accretive to Newmont’s Net Asset Value per share by 27%, and 34% accretive to the company’s 2020 cash flow per share;
- Begin delivering a combined $365 million in expected annual pre-tax synergies, supply chain efficiencies and full potential improvements representing the opportunity to create $4.4 billion in NPV (pre-tax);
- Target 6 – 7 Moz of steady-state gold production over a decades-long time horizon;
- Have the largest gold reserves and resources in the gold sector, including on a per share basis;
- Be located in favourable mining jurisdictions and prolific gold districts on four continents;
- Deliver the highest dividend among senior gold producers;
- Offer financial flexibility and an investment-grade balance sheet to advance the most promising projects generating a targeted Internal Rate of Return (IRR) of at least 15%;
- Feature a deep bench of accomplished business leaders and high-performing technical teams and other talent with extensive mining industry experience; and
- Maintain industry leadership in environmental, social and governance performance.