Tom Palmer to succeed Gary Goldberg as Newmont Goldcorp’s CEO

Press release

July 23, 2019

Newmont Goldcorp Corporation announced that, effective Oct. 1, 2019 Tom Palmer, president, will succeed Gary Goldberg to become the company’s president and chief executive officer and join the board of directors. As previously announced in January, Goldberg will retire from Newmont Goldcorp after more than seven years of exemplary service transforming the company into the world’s leading gold business as measured by assets, prospects and talent. From Oct. 1, 2019 through March 31, 2020, Goldberg will serve as executive advisor to support Palmer and the executive leadership team.

“Working closely with Gary over the last five years, Tom and our experienced team are the right leaders to continue executing Newmont Goldcorp’s proven strategy, and to take the company’s performance to higher levels,” said Noreen Doyle, chair of Newmont Goldcorp’s Board of Directors. “Tom’s deep understanding of the business, decades of mining experience, and skill in building high-performing teams will ensure Newmont Goldcorp continues delivering superior business results for our shareholders and other stakeholders. I and the Board are grateful to Gary for his exceptional leadership and the foundation he has built positioning Newmont Goldcorp as the sector’s standout leader in long-term value creation.”

Since May of 2016, when Palmer was appointed executive vice president and chief operating officer – with more than 85 percent of the company’s workforce reporting to him – Newmont Goldcorp has generated more than $2 billion in free cash flow and commissioned two new mines and six expansions on four continents, on or ahead of schedule and within or below budget. Palmer has also played a central role in leading the Newmont Goldcorp integration and the establishment of the joint venture with Barrick in Nevada.

“I’ve known Tom for more than 17 years and have had the pleasure of working closely with him to achieve superior operational performance and lead the gold sector in profitability and responsibility,” said Goldberg. “I’m proud of what we accomplished together and I know Tom is the best person to continue delivering exceptional business results while growing Newmont Goldcorp’s margins, Reserves and Resources. I have complete confidence in Tom’s ability, and I look forward to working closely with him and our team to ensure a seamless and successful transition.”

Prior to assuming leadership of Newmont Goldcorp’s operations and projects in 2016, Palmer led the company’s business in the Asia Pacific region, which generated nearly 40 percent of Newmont’s revenues at the time. His 25-year career in mining includes leadership roles at Rio Tinto’s iron ore, coal, aluminum, copper and technology businesses where he gained extensive experience leading global teams, and improving safety, profitability, sustainability, diversity and inclusion.

“I am honored to succeed Gary as Newmont Goldcorp’s next CEO and look forward to building on our many accomplishments to achieve our shared vision and proven strategy,” said Tom Palmer, President. “Not only is our business strong and healthy, Newmont Goldcorp’s unmatched portfolio of world-class operations, projects, exploration opportunities and talent will provide stable, profitable and responsible production for decades to come. Going forward, we will leverage our industry leading talent, balance sheet strength, innovative technical solutions and sustainability leadership to maximize performance at our world-class assets in the world’s most favorable mining jurisdictions.”

 

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