“These skilled directors have faithfully served the Company through a critical period of transition. They made valuable contributions to our Board’s deliberations, including the oversight of the integration of Goldcorp’s assets into Newmont’s portfolio,”
Newmont Corporation has recently announced that its Board of Directors plans to reduce the number of Directors from 15 to 11, effective following the Annual Meeting of Stockholders on April 21, 2020, with the completion of the Goldcorp integration.
The Corporate Governance and Nominating Committee and the Board determined that reducing the size of the Board strikes the right balance between promoting robust dialogue and accountability while ensuring diverse expertise, perspectives and skills. Five directors, including Cristina Bitar, Beverley Anne Briscoe, Sheri E. Hickok, Clement Pelletier and Charles Sartain, are retiring from the Board upon completion of their terms at the Annual Meeting on April 21, 2020.
“These skilled directors have faithfully served the Company through a critical period of transition. They made valuable contributions to our Board’s deliberations, including the oversight of the integration of Goldcorp’s assets into Newmont’s portfolio,” said Board Chair Noreen Doyle. “The Board and management are grateful for their service.”
One new nominee, Maura Clark, will be added to the slate at the Annual Meeting in April, which will comprise 10 independent directors. Maura is an experienced director and has a comprehensive knowledge of finance, strategic development and operations.
As part of sound succession and governance practices, the Board has also determined that Greg Boyce will be appointed Vice Chair, effective April 21, 2020. As Vice Chair, Greg will support Noreen Doyle in connection with Board and strategic oversight and governance matters, and both will work closely together over the next year towards a smooth Board leadership transition. “I appreciate the commitment of our Board to ensuring proper oversight and governance reflective of Newmont’s values,” said Tom Palmer, President and Chief Executive Officer.
The composition of the slate of proposed Directors for election at the 2020 Annual Meeting continues to reflect the Board’s commitment to diversity, with more than 50 percent female or ethnically diverse. Newmont’s Board consists of a broad range of backgrounds, experiences, talents and nationalities. As a global business, the Company benefits from the perspectives of directors who bring crucial insights and deep understanding of the activities of the business and in the jurisdictions in which Newmont operates around the world.