St Barbara Limited (ASX: SBM) (the 'Company') Non-Executive Chairman, Mr Tim Netscher, today announced that after 5 1/2 years in the role, Mr Bob Vassie has advised the Board that he wishes to retire from his role as Managing Director and CEO in 2020 to spend more time with his family in Brisbane, and to pursue a non-executive career.
The Board has appointed Mr Craig Jetson to succeed Mr Vassie as MD & CEO. Mr Jetson is a highly experienced career mining executive, having most recently served as Executive General Manager Cadia, Lihir and Global Technical Services at Newcrest Mining Limited (ASX: NCM). Previously, he was GM Lihir and prior to that held long term senior operating roles at Nyrstar and Zinifex in Australia, USA, Canada and Europe. Mr Jetson's experience in successfully leading challenging businesses in complex operating environments, together with his deep technical knowledge, is directly relevant to St Barbara and the Board is confident that he isthe right person to lead St Barbara through its next phase.
Mr Jetson will commence his role on 3 February 2020. Mr Vassie will remain to support Mr Jetson with the handover expected to complete by the end of March 2020.
Mr Netscher noted that a key task for a diligent board of directors is to continuously undertake CEO succession planning. As a result, for some time, the Board's Nomination and Remuneration Committee has had an ongoing relationship with an executive search agency, which has included periodic scans of the external candidate market. The board selected Craig from a short list of high calibre candidates. Mr Netscher said that the Board appreciated Bob advising it of his intentions in a timely manner, and noted that Bob has expressed his personal commitment to ensuring an orderly handover.
Mr Netscher paid tribute to Mr Vassie: 'There is never an ideal time for a well performing CEO to move on. Bob has achieved a remarkable turnaround of the Company, which restored the balance sheet and set a platform for growth through life extensions at Leonora and Simberi, and successful M&A.'
'Bob will hand over the reins as MD & CEO to Craig on 3 February next year and during the following handover period will work with Craig to deliver the completion of the Gwalia Extension Project, further integration of Atlantic Gold and progress the decision on the Simberi Sulphide project. I am very pleased that St Barbara has attracted such an experienced and capable successor as Craig Jetson. Craig's enthusiasm, experience and skillset are ideal for St Barbara's current and future needs.'
Mr Vassie said, 'My time at St Barbara has been the highlight of my career, especially working with such a fantastic team, a team that has delivered some incredible achievements. I am very attached to the team and the Company and therefore committed to a smooth transition. I also remain a significant shareholder in the Company. This has been a difficult decision for me but it is the right one now for me and my family. I am very focussed on progressing our key priorities for the next quarter and I look forward to supporting Craig during the transition over the coming months.'
St Barbara's incoming MD & CEO, Craig Jetson, said he was delighted to be selected to lead St Barbara. 'This Company has built an enviable reputation as a high quality operator and I'm very proud to become the new leader at this important time. Whilst Gwalia and Simberi are great operations, both with upside potential, the growth assets acquired with Atlantic Gold are especially exciting and I believe that I am well qualified to ensure their timely development for allshareholders. I look forward to working with the highly competent St Barbara team to successfully deliver these important projects.'
Summary of Craig Jetson's senior executive experience
Mr Jetson has had an extensive international career in mining and minerals processing, during which time he has worked in USA, Canada, Europe, PNG and Australia, most recently as the Executive General Manager Cadia, Lihir and Global Technical Services for Newcrest Mining Limited. His career began in Comalco (majority owned and subsequently fully acquired by Rio Tinto) in operations, engineering and asset management which led him to senior management and leadership roles with Nystar/Zinifex in their zinc smelting businesses.
Contact:
Tim Duncan
Tel: +61 408 441 122
ST BARBARA LIMITED 
