MELBOURNE, Victoria, June 25, 2013 /CNW/ - The Board of Newcrest Mining
Limited today announced the appointment of former Australian Securities
Exchange Chairman, Dr Maurice Newman AC, to conduct an independent
review of the Company's disclosure and Investor Relations practices.
Newcrest Chairman, Don Mercer, said the Newcrest Board was deeply
concerned about the criticism of the Company, as reported in the media,
regarding its interaction with the market and disclosure prior to the
Company's market release on 7 June 2013.
"Newcrest takes its disclosure obligations extremely seriously. Whilst
the Board is already reviewing events leading up to 7 June 2013, we
have decided to obtain an independent perspective," Mr Mercer said.
"Dr Newman is eminently qualified to conduct the independent review for
the Newcrest Board. His career spans 40 years in stockbroking and
investment banking, both in senior executive and directorial roles. He
has been Chairman of the Australian Securities Exchange (ASX) and the
Australian Broadcasting Corporation, and has been an advisor to
Australian State and Federal Governments. The full resources of the
Company will be made available to Dr Newman so that he is able to
conduct a full and thorough review. We look forward to receiving Dr
Newman's findings and any recommendations he may make."
The independent review will:
Review the Company's continuous disclosure and Investor Relations
processes and practices;
Review compliance with relevant internal Company policies and
Make recommendations in relation to any improvements or changes that
might be required to address any issues identified.
Dr Newman will target providing his report to the Board as soon as
"The Board will consider all findings and recommendations of the
review. If steps are required to be taken as a result of the review of
these matters, the Board will ensure that this occurs without delay. I
intend to report publicly on any resulting actions we decide are
necessary," Mr Mercer said.
Newcrest Chief Executive Officer, Greg Robinson, said Dr Newman's review
would receive complete cooperation and support from Company management.
Mr Robinson also confirmed that the Company would continue to cooperate
fully with any and all information requests and queries from the
responsible regulators, including the ASX and the Australian Securities
& Investments Commission.
DR MAURICE L NEWMAN AC, HonDBus Macq, FSIA, FSAA, FAICD
Maurice Newman retired as Chairman of the Australian Broadcasting
Corporation (ABC) in December 2011, and as Chairman of the Australian
Securities Exchange (ASX Limited) in September 2008.
His career spans forty years in stockbroking and investment banking,
including as Managing Director in 1984, and Executive Chairman from
1985 until 1999, of what is now the Deutsche Bank Group in Australia.
He was Chairman of the Deutsche Bank Asia Pacific Advisory Board and a
Director of Deutsche Bank Asia Pacific from 1999 to 2001. He was also
Chairman of Deutsche Asset Management (Australia) Limited from 1997
until 2000. Dr Newman retired from Deutsche Bank in July 2001.
Dr Newman served as Chancellor of Macquarie University from 2002 to
Dr Newman has chaired a number of Asian business alliances including the
East Asia and Oceania Stock Exchange Federation, and the Australia
Taiwan Business Council.
He has been an adviser to Australian governments, State and Federal, as
a member of the Consultative Committee on Relations with Japan
(1984-1987); a Commissioner of the National Commission of Audit
(1996); a member of the Business Advisory Panel established by the
Minister for Multicultural Affairs (1997 - 2002); Chairman of the
National Judging Panel for Innovation in Local Government (1997-1998);
Chairman of the Commonwealth Government's National Year 2000 Steering
Committee (1997-2000) and the Business Mature Age Workforce Advisory
Group (2000-2001); Co-Chair of the Singapore Australia Business
Alliance Forum (1999 - 2002); Chairman of the Federal Treasurer's
Financial Sector Advisory Council (1998 - 2007); Member of the New
South Wales Premier's Major Events Board (2002 - 2004); Chairman of
the Sydney Convention & Visitors Bureau (2001 - 2007); and Chairman of
Tourism NSW (2002 - 2007).
Dr Newman was also Chairman of the Sydney Legacy Citizen's Committee
(1998 - 2004); and Civil Patron, Royal Australian Naval Reserves,
Professional Studies Program (2005 - 2009).
In 1997, he was Australia's Private Sector Representative to the First
Commonwealth Heads of Government Meeting Business Forum held in London;
and in 1999 led a delegation of senior Australian executives to New
York promoting Australia, the Dynamic Success Story of the Asia Pacific - A Centre for
Global Financial Services.
Dr Newman is currently Chairman of Melon Pastoral Pty Ltd; Macquarie
University Foundation; Taronga Foundation; The Bradman Foundation; and
The Australian Fathers' Day Council; Director, Queensland Investment
Corporation; Advisor to the MMC Group of Companies; Trustee Sydney
Cricket & Sports Ground Trust; and Patron of CEDA.
He was appointed to the MARQ Services Advisory Board, in August 2012,
and Honorary Professor in Public Diplomacy at the Soft Power Advocacy &
Research Centre, Macquarie University in September 2012.
From September 2013, Dr Newman has been appointed Chairman-elect of the
proposed Prime Minister Abbott's Business Advisory Council
This information is available on our website at www.newcrest.com.au and at www.sedar.com.
SOURCE: Newcrest Mining Limited
For further information:
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T: + 1 212 351 5064
Investor Enquiries - Australia / Asia
T: +61 3 9522 5316
T: +61 3 9522 5593