Goldcorp CEO Resigns, Hudbay CEO to Take Over

Goldcorp (TSX:G,NYSE:GG) announced that its president and CEO, Chuck Jeannes, will retire following the company’s AGM in April. David Garofalo, currently president and CEO of Hudbay Minerals (TSX:HBM) will be the company’s new president and CEO of the company, also joining the company’s board of directors.
As quoted in the press release:

Mr. Jeannes has led Goldcorp since January 2007 and has been with Goldcorp and its predecessor company Glamis Gold Ltd. for nearly 17 years.  His career has been recognized by numerous distinguished awards and most recently named Canada’s Most Admired CEO by Waterstone Human Capital and MacKay CEO Forums.
Mr. Garofalo has worked in various capacities in the natural resources sector over the last 25 years.  He served most recently as President, Chief Executive Officer and Director ofHudbay Minerals Inc. since 2010 where he presided over that company’s emergence as a leading metals producer.  Before joining Hudbay, David served as Senior Vice President, Finance and Chief Financial Officer with Agnico-Eagle Mines Limited from 1998 to 2010. Earlier in his career, he served as Treasurer and held various finance roles with Inmet Mining Corporation from 1990 to 1998. David was named Canada’s CFO of the Year by Financial Executives International Canada in 2009.  He was also named Mining Person of the Year by Northern Miner Magazine in 2012. A graduate of the University of Toronto(B.Comm.), David is a Chartered Accountant and a Certified Director of the Institute of Corporate Directors. He also serves on the board of directors of Mackenzie Health Foundation.

Jeannes said in a statement:

It has been a tremendous honour to lead Goldcorp over the last seven years as it has matured into one of the world’s leading gold mining companies. I have had the privilege of working with an exceptional group of leaders as we built the foundations for long-lasting success at Goldcorp, including two key new mines that will drive strong, low-cost production for many years.  I have tremendous respect for David and look forward to working with him, the Board and the management team over the next few months to ensure a smooth transition.

Click here for the full press release.