A difference of opinion over the direction of Norton Gold Fields has resulted in managing director Jon Parker leaving the company, while chief financial officer Simon Brodie has also resigned.
News of the departures pushed the gold miner's shares lower by 16 per cent, or five cents to close at 26.5c today.
Mr Parker was appointed managing director of Norton in 2008 after the company acquired the Paddington gold mine in WA from Barrick Gold.
He has been a director with the company since 2006.
In a statement today, Norton said Mr Parker's decision to resign "reflects a difference in opinion regarding the strategic direction of the company at board level".
"Norton Gold Fields has grown substantially during the past 24 months and, whilst there has not always been smooth sailing, the Company has achieved some impressive outcomes," Mr Parker said.
"We have a strong executive team and I am confident in them going forward."
Non-executive chairman Tony McLellan would not detail the disagreement to WA Business News, however said that Mr Parker's split with the company was amicable.
"Jon realised you can't run a company with strongly held differing views," Mr McLellan said.
"He did the honourable, decent and mature thing [by resigning] and I am very thrilled to maintain a relationship to continue to use his services."
Mr Parker will continue to provide advice to Norton through his consultancy.
Mr McLellan said that Mr Brodie's departure from Norton did not have anything to do with the disagreement, however did state that Mr Brodie was very close to Mr Parker.
Chief operating officer Andre Labuschagne has today been appointed as chief financial officer and deputy chief executive, and Mr McLellan said that, for the time being, Mr Labuschagne was a prime candidate for the chief executive position.
Non-executive director Mark McCauley has been appointed interim chief executive and Norton said it will start the recruitment process for a replacement immediately.
The position of chief operating officer will remain vacant for the foreseeable future, Norton said.
Mr McLellan said for now, the company will focus on improving production and reducing costs.
