Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Kinross Gold Corporation (TSX: K) (NYSE: KGC) announced several changes to its senior leadership structure on Tuesday, including the appointment of Paul Tomory as EVP and CTO.
Lauren Roberts, SVP and COO, and Gina Jardine, SVP, Human Resources, will be leaving the company by mutual agreement. As well, the SVPs of the company’s three operating regions – the Americas, Russia and West Africa – will have increased accountability for operations at their respective regions, particularly in safety, cash flow, production and costs.
The Kinross senior management team. Image courtesy of Kinross Gold
“With the goal of increasing efficiency and cost management, we have streamlined our senior leadership team to ensure we are well positioned to continue delivering on our commitments and building value for the future,” President and CEO Paul Rollinson said in a statement.
“Paul Tomory, who led the successful completion of the Tasiast phase one expansion, and development of our project pipeline and strategic business optimization, will assume additional responsibility for regional operations. I am confident Paul will continue to maintain the excellent safety and operational track records that we hold as core company strengths and deliver on our project development goals,” Rollinson added.
The Kinross leadership team now includes: Paul Rollinson, President and CEO; Geoff Gold, EVP, Corporate Development and External Relations, and Chief Legal Officer; Paul Tomory, EVP and CTO; and Andrea Freeborough, SVP and CFO. The company has also created a leadership advisory team to provide direct input and insight on organizational issues, corporate strategy and key business decisions.
