Newmont Announces Executive Management Appointments & Changes
DENVER, November 1, 2006 - Newmont Mining Corporation (NYSE: NEM) announced today the planned retirement of Pierre Lassonde on December 31, 2006 from his full-time role as President of Newmont Mining Corporation. Mr. Lassonde will continue his employment in a part-time capacity, providing strategic guidance to the Company, and will serve as Vice Chairman of the Newmont Board of Directors, effective January 1, 2007.
"I am proud of the company we have built since the merger of Newmont, Franco-Nevada and Normandy in 2002. We set out to create a orld-class gold company with the management and financial strength to grow our reserves, develop attractive projects and operate a diversified portfolio of gold properties that provides exceptional gold price leverage to our investors. I believe we have built an outstanding management team, rivaled only by the quality of our land position and asset base," said Mr. Lassonde.
In conjunction with Mr. Lassonde's anticipated retirement, the Company also announced the appointment of the following executive management team.
• Richard O'Brien – Executive Vice President and Chief Financial Officer: With over 20 years of financial and operational experience in the energy, power and natural resources businesses, Mr. O'Brien is responsible for overseeing the finance, accounting, strategy, investor relations, capital effectiveness, and information technology functions of the organization. Prior to joining Newmont in 2005, Mr. O'Brien served as a senior executive of AGL Resources, Pacificorp and Mirant
(formerly Southern Energy, Inc.).
• Tom L. Enos – Executive Vice President, Operations: With over 34 years of operational experience with the
Company, Mr. Enos is responsible for overseeing the mining, engineering, construction, supply chain management, and health and safety functions.
Throughout his career with Newmont, Mr. Enos has developed broad exposure to each of the Company's operating regions, including over 20
years of experience in Nevada and extensive involvement with the
organization's Indonesian operations.
• Britt D. Banks – Executive Vice President, Legal and External Affairs: Mr. Banks is responsible for overseeing the legal, land, environmental affairs, communications, government relations, community relations, internal audit, and security functions of the Corporation. Mr. Banks joined Newmont in 1993 from the law firm of Holland & Hart, and has served as the Company's General Counsel since 2001.
• David Harquail – Executive Vice President, Exploration and Business Development: Since joining Newmont in 2002, Mr. Harquail has served as the Vice President of the Newmont's Merchant Banking group. Prior to joining Newmont, Mr. Harquail was with Franco-Nevada for 15 years as a senior executive. Mr. Harquail is responsible for overseeing the activities of Newmont Capital, as well as the exploration and technical services functions of the Company.
• Stephen Enders – Senior Vice President, Exploration: Reporting to Mr. Harquail, Mr. Enders is responsible for managing the Company’s worldwide exploration programs. Prior to joining Newmont in 2003, Mr. Enders was with Phelps Dodge for over 14 years, where he most recently served as President of Phelps Dodge Exploration Corporation.
• Darla Caudle – Senior Vice President, Human Resources: Ms. Caudle is responsible for the development of the Company’s management team and employee resources, organizational design, management processes, and compensation and recruiting functions. With over 24 years of human resources experience, Ms. Caudle has been responsible for Newmont’s human resources functions since joining the Company in 2002.
Commenting on the planned management changes and Mr. Lassonde’s anticipated retirement, Wayne Murdy, Chairman and Chief Executive Officer said, “Pierre and I are confident that the experienced management team, financial position and asset base we have in place provides the foundation for Newmont’s future development and growth. Although Pierre’s day-to-day presence will be missed by all of us, we understand and respect his decision to balance his family, work and World Gold Council commitments at this stage in his life. We are pleased that he has elected to continue his employment and involvement with the Company on a part time basis.”.
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933,as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by such sections. Such forward-looking statements include, without limitation, statements regarding financial strength, development and growth, exploration potential and gold price leverage. Where the company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, increased production costs and political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the company’s 2005 Annual Report on Form 10-K/A, which is on file with the Securities and Exchange Commission, as well as the company’s other SEC filings. The company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
SOURCE Newmont Mining Corporation