Regis Resources Limited's Share price advanced after the announcement of a new Managing director

  • Sep 17, 2018 AEST
  • Team Kalkine
Regis Resources Limited's Share price advanced after the announcement of a new Managing director

Regis Resources Limited’s (ASX: RRL) stock climbed up 1.41% on September 17, 2018 post announcement of appointed new Managing Director and management succession planning. As per the release, the company’s board has made two key appointments in which the Board has appointed Mr. James Mactier as Non-Executive Chairman effective from the 2018 Annual general (AGM) meeting, he is currently Non-Executive Director of the Company. At the same time, Mr. Mark okeby will cease to act as a lead independent director but will remain a Non-executive director. Besides this, Mr. Mark Clark, the current Managing Director and Executive Chairman will retire from the role of Managing Director on 15 October 2018. However, he will continue as Non-Executive chairman until the Company’s Annual General Meeting which will happen in late November 2018, and by that time he also intends to retire as a Director. In place of him, the Board has appointed Mr. Jim Beyer as a new Managing Director and Chief Executive officer of the Company, effective from 15 October 2018. He has a rich exposure in senior management with a span of over 25 years of experience in the gold mines industry. Further, Mr. Jim was most recently Chief Executive Officer of Mt Gibon Iron Limited (ASX: MGX) for past six years. Also, he has extensive Gold industry experience as he was the General Manager for 3 years of the Boddington Gold Mine which is one of the Australia’s largest gold mine. He was also a General Manager of Pajingo Goldmine for 2 years. He has also held senior mine management roles at WMC resources and MIM holdings. Mr. Jim has a strong educational background as he holds a Bachelor of Engineering (Mining) degree, a master of Geoscience (Mineral economics) and he has also been a member of the Executive Council of the Association of Mining and Exploration Companies (AMEC). 

The board has also announced that Mr. James Mactier has accepted the role of chairman. He has been a Non-executive Director of the company since February 2016. He has a deep knowledge of Financial markets, the gold industry and the broader resources landscape in Australia and abroad. He has an experience of 15 years as a Joint head of the Metals and energy Capital Division of Macquarie Bank.

RRL’ shares traded at $3.955 at a market capitalization of circa $1.98bn as on 17 September 2018 (AEST 04:00 P.M.).

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