LONDON, UK: Resolute Mining Limited (LSE: RSG) advises that the company’s Chief Executive Officer (CEO) role will transition to current Chief Operating Officer (COO) Mr Terry Holohan following the resignation of Mr Stuart Gale as Managing Director and CEO.
Mr Holohan will formally take over as CEO after Mr Gale leaves the Company in order to pursue an opportunity in the Australia-focussed resources sector. While Mr Gale ceases to be a director of the Company, in accordance with Resolute’s constitution, he will continue to work during his contractual notice period to the extent required by the Board to ensure a smooth transition.
Mr Holohan is an experienced mining sector executive with more than 40 years in the industry, including seven years experience as CEO for two mining companies. Thirty of those years have been spent working in Africa with a range of precious and base metals mining projects.
Mr Holohan was appointed as COO in May 2021 and since then has been responsible for all aspects of the Company’s operations and projects. He has been instrumental in resetting the operations at the Company’s flagship Syama mine in Mali, where operations are progressing well and in line with expectations following the recent planned sulphide plant shutdown.
Resolute Chairman, Martin Botha said: “Strengthening our senior leadership team has been a strategic focus at Resolute, and this attention to succession planning will allow us to manage the current transition with minimal disruption to the business. We are fortunate to have someone of Terry’s calibre and extensive experience already in the Company to assume the CEO role.
“Terry’s deep technical and operational expertise, as well as his extensive experience in working in Africa will be of particular relevance to the Company during the current focus on operational improvement and repositioning for improved shareholder returns.
“I would like to thank Stuart for his leadership and commitment during a challenging period for the Company – both in terms of managing the impact of COVID-19 on our business and people, but also in focusing on operational improvement and productivity. We wish him all the best in his new venture.”
CEO designate Terry Holohan, said: “This is an important period for Resolute and I look forward to working with the Board to build on the operational improvements we have been making to take the Company forward. There is more work to be done here and my priority as CEO will be to ensure the Company is best positioned to achieve this, and that we have the right people, systems and procedures in place to do so.”
The terms and conditions relating to Mr Holohan’s employment as CEO will be finalised and announced upon him formally commencing the role.