By Rhiannon Hoyle
Newcrest Mining Ltd. said Chief Executive Sandeep Biswas will leave the company and that Chief Financial Officer Sherry Duhe will assume that role on an interim basis effective Monday.
"As we look toward the future, it is an opportune time for fresh leadership to accelerate the evolution of our company and ensure we are best placed to make the most of the opportunities in front of us," Chairman Peter Tomsett said in a statement on Monday.
Mr. Biswas has been CEO of Newcrest, Australia's largest listed gold producer, since 2014. He will remain as an advisor to the company until March 18, 2023.
Newcrest said it has started looking for a new chief executive, aided by executive search firm Russell Reynolds. An appointment is expected to be made next year, the miner said.
Ms. Duhe joined Newcrest in February, 2022. "Sherry's business acumen, strategic insights, track record of creating value and her focus on ensuring Newcrest is a great place to work means she is well placed to serve as interim CEO," Mr. Tomsett said.
The company said Group Treasurer Dan O'Connell will become interim CFO and that Chief Operating Officer Americas Craig Jones will oversee all of Newcrest operations on an interim basis, both effective Monday.
"To provide continuity and ongoing support alongside the management team, Peter Tomsett will have increased involvement in the business during the transition period," the company said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
12-18-22 1718ET
