- Michael Holmes resigns as President, CEO and from the Board of Directors of OceanaGold (OGC), effective immediately
- Mr Holmes has been with OceanaGold for the past nine years and was appointed President and CEO in April 2020
- A search is currently underway to find a successor but in the interim, Chief Operating Officer Scott Sullivan has been appointed acting President and CEO
- Prior to joining OceanaGold, Mr Sullivan worked with the likes of Paladin Energy, Newcrest and Minbos Resources
- OceanaGold ends the day 3.98 per cent in the red with shares trading at $2.41
Michael Holmes has resigned as President, CEO and from the Board of Directors of OceanaGold (OGC), effective immediately.
Mr Holmes has been with OceanaGold for the past nine years and was appointed President and CEO in April 2020.
He is an accomplished mining engineer with more than 30 years of experience working across Australia, New Zealand, North and South America, and the Philippines.
Prior to joining OceanaGold, he was General Manager of the Minera Alumbrera Operations in Argentina with Xstrata Copper.
Mr Holmes has not stated his reasons for leaving but commented on his time at the company.
“It has been a privilege to serve the company over the past nine years,” Mr Holmes said.
“I am proud to have led a team of passionate and dedicated mining professionals who are committed to responsible mining and best ESG practices while setting up to deliver long-term value for shareholders.”
A global search is currently underway to find a successor but in the interim, Chief Operating Officer Scott Sullivan has been appointed acting President and CEO.
A mining executive with over 30 years of experience, Mr Sullivan has worked across the Australian, New Guinean, African and North American markets.
Before joining OceanaGold, he was CEO of Paladin Energy and General Manager of Newcrest’s Telfer Gold Mine, CEO of Attila Resources and Managing Director of Minbos Resources.
Incoming Chairman Paul Benson said he is excited to be working with Mr Sullivan.
“I look forward to working with Scott Sullivan in the Chief Operating Officer and CEO roles. I have known Scott for over 30 years since we first worked together at the Renison Tin Mine in Tasmania,” Mr Benson commented.
“Scott is an exceptional mining engineer and has the skills and experience to drive OceanaGold’s operating performance to the next level.”
OceanaGold has ended the day 3.98 per cent in the red with shares trading at $2.41 in a $1.76 billion market cap.