19/10/2020 - 15:51

Welborn steps down as Resolute MD

19/10/2020 - 15:51

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Resolute Mining has begun its search for a new leader after managing director and chief executive John Welborn stepped down from the role.

Welborn steps down as Resolute MD
John Welborn has stepped down as Resolute Mining managing director and CEO. Photo: Attila Csaszar

Resolute Mining has begun its search for a new leader after managing director and chief executive, John Welborn, stepped down from the role.

Mr Welborn, who served five years in both roles, will be temporarily replaced by chief financial officer Stuart Gale while the goldminer undertakes its search to fill the leadership position.

Mr Gale joined the company in January this year and previously held roles at Fortescue Metals Group and Wesfarmers.

Chairman Martin Botha said it was time to introduce a new CEO to the business.

“John has worked hard to reposition and transform the business over the past five years, and the time is right to introduce a new CEO to take Resolute forward, to deliver improvement in operational outcomes and resilience, and to deliver the next phase of sustainable value for the company,” Mr Botha said.

“Under his [Mr Welborn] leadership, Resolute has been active corporately to build its mining profile and dual-list on the London Stock Exchange.

“On behalf of the board, I would like to thank him for his valuable contribution and wish him well in his future endeavours.”

Resolute said there was no change to its 2020 guidance.

Its shares closed down one per cent to trade at 95 cents.

South32 has also announced changes to its board, in a bid to simply its functional structures.

Kelly O'Rourke has been appointed to the newly created role of chief external affairs officer and will be accountable for corporate affairs and sustainability strategy. She is currently South32's vice president of corporate affairs.

The scope of chief commercial officer, Brendan Harris, will be expanded to include human resources in his new role as chief of HR and commercial officer.

Vanessa Torres' chief technical officer role will also be expanded to include accountability for technical stewardship and governance for health, safety, environment (HSE), alongside her responsibilities for projects and innovation and technology.

The site-based HSE teams will report to leadership at each operation, South32 said.

With the changes, Rowena Smith and Nicole Duncan will leave the company after their respective handover periods.

“The further simplification of our functional structures and consolidation of leadership responsibilities lays the foundations for our ongoing portfolio transformation,” chief executive Graham Kerr said.

South32 shares closed up 4.3 per cent to trade at $2.20.

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