DENVER, June 5 /CNW/ -- Newmont Mining Corporation (NYSE: NEM) today
announced the retirement of Wayne W. Murdy as Chief Executive Officer as of
July 1, 2007, and the appointment of Richard T. O'Brien as Chief Executive
Officer and President as of the same date. Mr. O'Brien was also elected to
the Board of Directors. Mr. Murdy will continue to serve as Chairman of the
Board until the end of 2007, representing Newmont with international and
industry organizations and in specific international initiatives.
Glen A. Barton, lead director for Newmont, said, "Wayne has led Newmont
through a remarkable transformation during his tenure as CEO. He successfully
guided the company through its acquisitions of Normandy and Franco-Nevada, and
the integration of those companies to create one of the world's leading
natural resources companies. And as recent chair of the International Council
on Mining and Metals, he was a strong leader and tireless advocate for
improving the performance and addressing the key challenges of our industry.
We look forward to his continued leadership, service and counsel to Newmont as
Chairman of the Board." Mr. Murdy, who will turn 63 in July, cited a recent
health issue and family considerations as influencing his decision to retire
at this time.
Mr. O'Brien joined Newmont in 2005 as Chief Financial Officer and was
most recently President and Chief Financial Officer. Prior to joining
Newmont, he served as a senior executive of AGL Resources and Pacificorp. Mr.
Murdy commented, "Dick has more than 20 years of operating and financial
experience in the energy, mining and natural resources businesses. We have
benefited significantly from Dick's talents and perspectives, and he is the
natural leader of Newmont's executive team as we move forward."
Mr. O'Brien commented, "I am honored to be asked to lead a company with a
storied history and the industry's most committed and talented employees. I
look forward to continuing to work with Wayne, the Board of Directors, and our
employees in my new role, to drive improvement on operational execution and to
ensure a stable, predictable and profitable production and reserve base for
The Company also announced the election of Joseph A. Carrabba to the
Board. Mr. Carrabba is Chairman, President and Chief Executive Officer of
Cleveland-Cliffs Inc, the leading supplier of high-quality iron ore products
to the North American steel industry. Prior to joining Cleveland-Cliffs in
2005, Mr. Carrabba held various senior operating positions with Rio Tinto PLC,
including President and Chief Operating Officer of Diavik Diamond Mines.
Vincent A. Calarco, Chairman of the Corporate Governance and Nominating
Committee of the Board, said, "The Board is very pleased to add a director
with such a depth of experience in mining operations. We look forward to
benefiting from Mr. Carrabba's wealth of experience."
For further information:
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