Brad Gordon
Acacia would like to advise the market that Brad Gordon,
Chief Executive Officer, and Andrew Wray, Chief Financial Officer, have
separately notified the Company of their intention to resign from their
positions. Both Brad and Andrew will remain with the Company until the end of
the year to ensure a smooth transition. Brad will be returning to Australia for
family reasons, while Andrew is pursuing an opportunity elsewhere.
Concurrently, the Board is pleased to announce the
appointment of Peter Geleta, currently Acacia’s Head of Organisational
Effectiveness, as Interim Chief Executive Officer. Jaco Maritz, currently
Acacia’s General Manager, Finance, will be appointed Chief Financial Officer.
Both appointments will be effective from 1 January 2018.
Peter (54) has 35 years of mining industry experience in
both operational and corporate leadership positions, primarily in Africa. Prior
to joining Acacia, Peter held senior roles at AngloGold Ashanti (25 years) and
Barrick Gold Corporation (“Barrick”).
He joined Acacia in May 2012 as Vice President,
Organisational Effectiveness. Since then, Peter has been a key member of the
Executive Team of Acacia and an integral part of the Company’s turnaround.
During his time with Acacia, Peter has also served as General Manager of the
Bulyanhulu mine and helped lead the successful restructuring of the business.
Peter holds an Executive MBA qualification from the University of Cape Town.
Jaco (42) has been with Acacia and its predecessor companies
since 2001 in a range of increasingly senior finance roles covering all aspects
of the finance function.
He was initially employed by Placer Dome, which was
acquired by Barrick in 2006, and was part of Acacia at its inception. In 2013,
Jaco spent six months acting as Chief Financial Officer for the business, prior
to the appointment of Andrew. Jaco is a member of the South African Institute
of Chartered Accountants.
In addition to assuming the role of Interim CEO, Peter will
also replace Brad on the Board of Directors at the end of the year.
As a
result, the Board will continue to consist of 7 Directors, with 1 Executive
Director, 4 independent Non-Executive Directors and 2 Non-Executive Directors.
Commenting on the changes, Kelvin Dushnisky, Chairman of
Acacia said, “Brad and Andrew have been instrumental in the operational and
financial turnaround of Acacia over the past four years and on behalf of the
Board and the Company, I would like to extend our sincere thanks to both of
them for their contributions.
We wish them all the best for the future. We are
equally confident that Peter and Jaco will move seamlessly into their new
roles. Peter’s demonstrated leadership skills, combined with his all-around
abilities and strong experience across all aspects and all levels of the
African mining industry will be an important asset for Acacia.
Jaco’s expertise
and long history with the company make him the natural successor for Andrew.
The Board will continue to provide the management team with our full support as
the Company focuses on delivering against our operational targets, which remain
unchanged from the Q3 results, while seeking a resolution to the situation in
Tanzania.”
ENQUIRIES
For further information, please visit our website:
www.acaciamining.com or contact:
Acacia Mining PLC +44 (0) 20 7129 7150
Giles Blackham, Investor Relations
Camarco +44
(0) 20 3757 4980
Gordon Poole / Billy Clegg / Nick Hennis
About Acacia Mining plc
Acacia Mining plc (LSE:ACA) is Tanzania’s largest gold miner
and one of the largest producers of gold in Africa. We have three mines, all
located in north-west Tanzania: Bulyanhulu, Buzwagi, and North Mara and a
portfolio of exploration projects in Kenya, Burkina Faso and Mali.
Acacia is a UK public company headquartered in London. We
are listed on the Main Market of the London Stock Exchange with a secondary
listing on the Dar es Salaam Stock Exchange. Barrick Gold Corporation is our
majority shareholder. Acacia reports in US dollars and in accordance with IFRS
as adopted by the European Union, unless otherwise stated in this announcement.
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