Newcrest Mining swings the axe

Newcrest Mining has made sweeping board and management changes after being punished by investors for poor production and reprimanded by regulators for poor disclosure. Current chairman Don Mercer, who oversaw the acquisition of Lihir Gold, will retire in December and be replaced by current director Peter Hay, a former chief executive of legal firm Freehills (a noteworthy background considering the company’s current legal woes). Chief executive Greg Robertson, who has been in the top job since 2011, will be replaced in 2014 by newcomer Sandeep Biswas who was made chief operating officer today. Biswas, a chemical engineer by training,...

Newcrest Mining has made sweeping board and management changes after being punished by investors for poor production and reprimanded by regulators for poor disclosure. Current chairman Don Mercer, who oversaw the acquisition of Lihir Gold, will retire in December and be replaced by current director Peter Hay, a former chief executive of legal firm Freehills (a noteworthy background considering the company’s current legal woes).

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