Newmont names post-Goldcorp merger leadership team

Newmont Mining Corporation (NYSE: NEM) has announced the composition of Newmont Goldcorp’s Executive Leadership Team following the closing of the transaction which is expected in the second quarter...


Newmont Mining Corporation (NYSE: NEM) has announced the composition of Newmont Goldcorp’s Executive Leadership Team following the closing of the transaction which is expected in the second quarter.

“As previously announced in January, the leadership of Newmont Goldcorp 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,” said Gary Goldberg, Chief Executive Officer.

“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,” said Tom Palmer, President and Chief Operating Officer. “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.”

Newmont said the appointment of the accomplished 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 Gary Goldberg, CEO, through Q4)

• Tom Palmer – President (effective 1 June)

• Rob Atkinson – Executive Vice President and Chief Operating Officer (effective 1 June; reporting to Tom Palmer)

• Nancy Buese – Executive Vice President and Chief Financial Officer (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)

A statement from Newmont said immediately upon closing of the transaction, Newmont Goldcorp will:

• Be accretive to Newmont’s Net Asset Value per share by 27 per cent, and 34 per cent 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 Net Present Value (pre-tax);

• Target 6-7 million ounces 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 per cent:

• Feature a deep bench of accomplished business leaders and high-performing technical teams and other talents with extensive mining industry experience; and

• Maintain industry leadership in environmental, social and governance performance.

Newmont Goldcorp Leadership (current biographies)

Gary Goldberg, Chief Executive Officer

Gary Goldberg has served as Chief Executive Officer and member of the Board of Directors of Newmont Mining Corporation since March 2013. He served as President and Chief Executive Officer from March 2013 until November 2018, and previously served as President and Chief Operating Officer since July 2012 and as Executive Vice President and Chief Operating Officer since December 2011. Prior to joining Newmont, Mr Goldberg was President and Chief Executive Officer of Rio Tinto Minerals and served in leadership roles in Rio Tinto’s coal, gold, copper and industrial minerals businesses. Mr Goldberg has more than 35 years of experience in the mining industry and was inducted into the American Mining Hall of Fame in 2017. He is the current Vice Chair of the World Gold Council and Treasurer of the International Council on Mining and Metals and served as Chair of the National Mining Association in the United States from 2008 to 2010.

Tom Palmer, President and Chief Operating Officer

In October of 2018, Tom Palmer was promoted to serve as Newmont’s President and Chief Operating Officer. Since May of 2016, when he was appointed Executive Vice President and Chief Operating Officer – with more than 85 per cent of Newmont’s workforce reporting through to him – Newmont has generated more than $2 billion in free cash flow and commissioned two new mines and five expansions on four continents, on or ahead of schedule and within or below budget. Project optimization work under Mr Palmer’s leadership has also positioned Newmont’s robust project pipeline as among the best in the gold sector through capital discipline and a focus on returns. Prior to assuming leadership of Newmont’s operations and projects in 2016, Mr Palmer led the Company’s business in the Asia Pacific region, which generated nearly 40 per cent of Newmont’s revenues at the time. Before being recruited to join Newmont in 2014, Mr Palmer served as Chief Operating Officer for Pilbara Mines at Rio Tinto Iron Ore. Mr Palmer’s 25-year career in mining includes leadership roles in Rio Tinto’s bauxite and aluminium, coal, copper, iron ore, and technology businesses where he gained extensive experience building and leading high-performing global teams to enhance safety, profitability, sustainability, and diversity and inclusion.

Rob Atkinson, Executive Vice President and Chief Operating Officer

With 25 years of mining industry experience, Rob Atkinson has held a variety of roles leading operations and business improvement efforts in Australia, the United Kingdom and the United States. Most recently, he served as Head of Productivity and Technical Support for Rio Tinto and was responsible for the company’s $5 billion productivity improvement strategy. Mr Atkinson also served as Chief Operating Officer for Rio Tinto’s portfolio of copper interests in Mongolia, the US, Chile and Indonesia. Previously he led ASX-listed Energy Resources of Australia as Chief Executive and Director and served as General Manager of Weipa Bauxite, one of the world’s largest bauxite operations. During his tenure with Rio Tinto, Mr Atkinson oversaw the establishment of three technical centres of excellence, including Surface Mining, Underground Mining and Processing. Mr Atkinson also has extensive operational experience in iron ore and surface and underground coal mining. He holds a 1st Class Honors Bachelor’s degree in Mining and Petroleum Engineering from Strathclyde University in Scotland.

Nancy Buese, Executive Vice President and Chief Financial Officer

Nancy Buese was appointed Executive Vice President and Chief Financial Officer effective October 31, 2016. Nancy brings 25 years of experience in finance leadership roles and joined Newmont having most recently served as Executive Vice President and CFO for MPLX, a publicly traded energy company formed by Marathon Petroleum Corporation. Prior to MPLX’s acquisition of MarkWest Energy Partners in 2015, Ms Buese served for 11 years as Executive Vice President and Chief Financial Officer of MarkWest. Having worked in public accounting for 12 years, Ms Buese also is a former Partner with Ernst & Young. She earned her degree in Accounting and Business Administration from the University of Kansas and is a Certified Public Accountant.

Jennifer Cmil, Vice President, Talent Management

Jen Cmil was appointed Vice President, Talent Management in February 2018 after having served as Group Executive, Human Resources since April 2014 and Senior Director, Human Resources since 2010 when she joined Newmont. Prior to Newmont, Ms Cmil held leadership positions in human resources across multiple industries, including Vice President of Human Resources at Level 3 Telecommunications, Senior Human Resources Director at KB Home and Human Resources Business Partner at Sun Microsystems, where she began her career in 1994. Ms Cmil has a proven track record of partnering with senior leaders to increase performance and engagement through a partnership with HR and she is passionate about developing individuals and teams. Ms Cmil received her Bachelor of Science degree from Syracuse University and her Masters of Industrial and Labor Relations from Cornell University. Ms Cmil will become Executive Vice President, Human Resources, on June 1, 2019.

Randy Engel, Executive Vice President, Strategic Development

Randy Engel was elected Executive Vice President, Strategic Development in September 2008, after having served as Senior Vice President, Strategy and Corporate Development since 2007. Mr Engel has been with the Company since 1994 and has served in various capacities in the areas of business planning, corporate treasury and human resources. Mr Engel holds a Master of Science degree in Finance from the University of Denver, and a Bachelor degree in Business Administration from the University of Colorado.

Dean Gehring, Senior Vice President, South America

Dean Gehring joined Newmont as Regional Senior Vice President, South America in June 2017. He brings over 25 years of global operational experience, having lived in Canada, Indonesia, Peru and the US. Prior to joining Newmont, he spent 14 years with global miner Rio Tinto, in a variety of executive roles including President and Chief Executive Officer of Rio Tinto Minerals, Global Head of Safety and Security and General Manager of Resource Development for the Oyu Tolgoi mine in Mongolia. Mr Gehring previously worked as Manager of Technical Services at Freeport’s Grasberg mine and held various operational and technical roles with BHP Billiton prior to working for Freeport. He earned his Bachelors of Science degree in Mining Engineering from the University of Idaho, and his Masters of Science in Project Management from the University of Aberdeen in Scotland. Mr Gehring holds a Nevada Professional Engineering registration and Project Management Professional certification. In addition to having published papers for mining and project management journals, he has served on university advisory boards and is currently the co-chair of the SME Foundation Corporate Giving Committee. Mr Gehring will become Executive Vice President and Chief Technology Officer on June 1, 2019.

Stephen Gottesfeld, Executive Vice President and General Counsel

Steve Gottesfeld joined Newmont in 1997 and serves as Executive Vice President and General Counsel. In his current role, he leads a global team of more than 50 professionals focused on leading governance practices and providing sound legal and business advice. A focus of the team's work is ensuring, through the Ethics and Compliance program, that Newmont and its employees have the support necessary to work in accordance with the company’s Code of Conduct, Global Policies and Standards. Prior to leading Newmont’s Legal, Land and Ethics and Compliance functions, Mr Gottesfeld served as Vice President of Communications and Public Affairs from 2006 to 2010. From 2004 to 2006, he was Newmont’s Associate General Counsel responsible for our Latin America, Africa and Central Asia legal offices. From 2002 to 2004, Mr Gottesfeld was Newmont’s Associate General Counsel and General Manager of Newmont Peru S.R.L. in Lima, Peru. Prior to joining Newmont in 1997 as Senior Counsel, Mr Gottesfeld was an Associate at Holland & Hart LLP. He earned a law degree and a Master’s degree in International Affairs from the University of Denver in 1993 and received a Bachelor of Arts degree in Economics from The Colorado College in 1989. Mr Gottesfeld will become Executive Vice President and Chief Sustainability and External Affairs Officer on June 1, 2019.

Nancy Lipson, Vice President and Deputy General Counsel

Nancy Lipson was elected Vice President and Deputy General Counsel in February 2013, after having served as Associate General Counsel and Assistant Secretary since January 2010 in the substantive areas of commercial litigation, employment advice/litigation and executive compensation legal advice. Ms Lipson’s role expanded to also include responsibility for global ethics and compliance, and subsequently shifted to include responsibility for global operational legal functions. From July 2005 to January 2010, Ms Lipson was Assistant General Counsel. Prior to joining Newmont in July 2005, she was Senior Counsel for Sports Authority and for Qwest Communications, and an Associate with the law firm of Otten, Johnson, Robinson, Neff & Ragonetti, P.C. She earned a law degree from the University of California, Hastings College of the Law in 1995 and received a Bachelor of Arts degree in Political Science from Colorado College in 1991. Ms Lipson will become Executive Vice President and General Counsel on June 1, 2019.

Marcelo Godoy, Senior Vice President, Exploration

Marcelo Godoy joined Newmont in 2012 as Group Executive, Technical Services and was promoted to Vice President, Resource Evaluation and Mine Planning in 2017, and most recently to Senior Vice President, Exploration in December 2018. Bringing over 20 years of experience to his tenure at Newmont, he has led the development of numerous innovative programmes, including a world-class orebody risk management system, and Smart Mine, one of the company’s Operational Technology and Innovation initiatives. Mr Godoy’s extensive international experience includes expertise in gold, copper and iron ore through resource development and technology projects in Africa, Australia, Europe, North America, and South America. Prior to joining Newmont, he was the leader of Ore Evaluation Services for Golder Associates in South America and served on their global Board. Mr Godoy is a world-renowned Geoscientist and holds an M.Sc. degree in Geostatistics and a PhD Strategic Mine Planning from the WH Bryan Mining Geology Research Centre at the University of Queensland in Australia.

About Newmont

Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016, 2017 and 2018. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.


Source: Ghana/ClassFMonline.com/91.3FM



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