New CEO as of Jan 1
posted on
Dec 12, 2008 03:19AM
Lowest-cost, fastest growing senior gold producer.
VANCOUVER — — Goldcorp Inc. [G-T] is getting its fourth chief executive in four years with word that Kevin McArthur is retiring at year-end.
He will be replaced by Chuck Jeannes, currently executive vice-president of corporate development.
Mr. McArthur took over as CEO in late 2006, succeeding Ian Telfer, now chairman, at the time of Goldcorp's takeover of Glamis Gold, where Mr. McArthur had been CEO.
Mr. Telfer had been appointed to Goldcorp's top job in early 2005, taking over from founder Rob McEwen after Goldcorp's merger with Wheaton River Minerals, where Mr. Telfer had been chairman and chief executive.
Goldcorp said early Friday that Mr. McArthur will remain a director and will serve through 2009 as adviser to the CEO.
“Personal considerations make this the right time for me to step aside as CEO,” Mr. McArthur stated.
“The strong condition of Goldcorp and its leadership today has made my decision easier.”
Mr. Telfer said: “Kevin presided over the smooth integration of over $10-billion in assets over the last two years and left Goldcorp positioned as one of the finest companies in the world — that will be his legacy.”
Mr. Jeannes joined Goldcorp with the takeover of Glamis, where he had been executive vice-president. Before that, he was a vice-president of Placer Dome, with a background as a lawyer specializing in mining matters.
“Kevin presided over the smooth integration of over $10-billion in assets over the last two years and left Goldcorp positioned as one of the finest companies in the world — that will be his legacy,” Mr. Telfer said.
Mr. Jeannes said his priorities will be continuing strong low-cost growth in stable jurisdictions, “while safeguarding our strong liquidity and cash balances during the currently challenging financial markets.”