Pan American Silver Corp. announced that as the last step of a transitional plan that has been under consideration for over a year, Mr. Geoff Burns, Chief Executive Officer, will retire effective December 31, 2015 and Mr. Michael Steinmann, currently President, will be appointed President & CEO effective January 1, 2016. Mr. Steinmann will also join the board of directors on January 1, 2016.

Mr. Burns will continue serving on the company's board of directors until the company's next annual general meeting scheduled for mid-May of 2016. Mr. Michael Steinmann has led the Company's geology and exploration activities since he joined Pan American in 2004. Mr. Steinmann was made Executive Vice President in 2008 and he took charge of Pan American's strategic business development activities in 2011.

He was promoted to President in February, 2015.