Cameco Announces Next CEO

Cameco Corp. (TSX:CCO,NYSE:CCJ) reports that its board of directors has appointed Tim Gitzel to be the company’s next CEO, effective July 1, 2011.

The press release is quoted as saying:

Jerry Grandey has confirmed his intention to retire as CEO and as a board member at the end of June 2011 after turning 65 that month. Tim Gitzel, 48, will assume the position of president and CEO. He will also be nominated as a member of the board of directors at the company’s annual meeting in May.

Cameco Corp.’s chair of the board, Victor Zaleschuk says:

“Jerry Grandey has provided Cameco with excellent leadership that included building a solid management team with great abilities and experience.” “We are fortunate to have Tim Gitzel to continue Cameco’s growth using his leadership strengths and extensive industry knowledge.”

Cameco’s new President and CEO, Tim Gitzel says:

“This is an exciting time to lead this organization building on the foundation put in place by my predecessors.””We are on track to pursue our ambitious goal to double our uranium production by 2018 as the world is noticing that the nuclear renaissance is underway.”

Click here to access the entire news release.