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Newcrest announces new CEO and chairman

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Newcrest has appointed a new chairman and a new CEO, as Greg Robinson steps down.

Peter Hay has been announced as the new chairman, while Sandeep Biswas will step into the COO role and eventually move into the position of CEO in the second half of next year.

It comes at Newcrest chairman Don Mercer announced that he would step down as chairman in December.

The board has already endorsed Hay as his successor, with Mercer, aged 72, stating that an orderly succession program had started earlier this year with the appointment of Hay and Philip Aiken as directors in August.

Hay said is looking forward to assuming the role of chairman.

Biswas will move into the role of COO from 1 January next year.

He was previously the CEO of Pacific Aluminium.

He will replace current managing director and CEO Greg Robinson.

Commenting on the announcement, Robinson said "after eight years with Newcrest as CEO and previously as CFO, it is time to ensure there is an organised succession for the CEO role".

The change in management comes as Newcrest announces a September production rate of 586 573 ounces of gold and 19 632 tonnes of copper at a cost $784 per ounce.


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