The Board of Directors of Barrick Gold Corporation (NYSE:ABX,TSX:ABX) has announced a new executive management structure to allow for Barrick “to meet the distinct demands and challenges of the mining industry in the 21st century.” The restructure will see Kelvin Dushnisky and Jim Gowans as co-presidents of the company, while Ammar Al-Joundi will be promoted to senior executive vice president and Darian Rich will take on the newly created role of executive vice president, talent management. CEO Jamie Sokalsky will step down as of September 15 2014.
As quoted in the press release:
Kelvin Dushnisky, currently Senior Executive Vice President responsible for Corporate and Government Affairs and Chairman of African Barrick Gold plc, and Jim Gowans, currently Executive Vice President and Chief Operating Officer, will be appointed Co-Presidents with overall responsibility for execution of the company’s strategic priorities and operating plans. This model reflects the interconnected nature, and strategic importance of jointly managing day-to-day mining operations and the company’s relationships with host governments, local communities and other external stakeholders. As Co-Presidents, Messrs. Dushnisky and Gowans will be responsible for the seamless execution of both functions at all times.