Newcrest appoints Peter Hay chair

Group appoints replacement for Don Mercer, who will step down in December.

Newcrest Mining (NCM) has appointed director Peter Hay as chairman, replacing Don Mercer after he steps down in December.

In a statement to the Australian Securities Exchange, Mr Hay said Newcrest was well positioned for the future and the board would continue to ensure its corporate strategy remained appropriate in view of volatile market conditions.

"Peter Hay is an extremely experienced and capable director whose skills and intellect will help lead Newcrest into the next stage of its development as a major gold producer," Mr Mercer said. 

Mr Mercer said he had flagged his intentions to retire to colleagues last year and an orderly succession program had commenced this year. 

Newcrest also appointed Sandeep Biswas as chief operating officer, effective January 1, 2014.

He will also join the board as an executive director from that date.

Newcrest said it is positioned to deliver its guidance for the 2014 financial year, reporting September quarter 2013 production of 586,573 ounces of gold and 19,632 tonnes of copper.