Barrick Mining Corporation (NYSE:B, TSX:ABX) announced the resignation and immediate departure of Mark Bristow on 29 September. Bristow served as President and CEO for almost seven years, having joined the company following the merger of Barrick and Randgold in 2019. His departure from the company has come as a surprise to the industry and the company has offered no clear explanation about his swift exit.
Mark Hill has been appointed Group COO and Interim President and CEO effective immediately. Hill has previously been responsible for Barrick’s Latin American and Asia Pacific regions and brings 30 years’ experience to the role.
Barrick’s Search Committee of the Board has now started the process of identifying a permanent new President and CEO, with the assistance of a leading executive search firm.
John Thornton, Chairman of the Board, said: “On behalf of the Board, I want to thank Mark for his leadership of Barrick. During his tenure, Mark strengthened our portfolio and helped position Barrick as a leading global producer of gold and copper. As a result, the Company is well-positioned for the next phase of our growth and value creation for all shareholders. We wish Mark the very best for his future.”
“We are delighted to welcome Mark Hill as Group COO and Interim President and CEO. His caliber, experience and deep knowledge of the Company will ensure we maintain momentum. The Board is committed to both finding the right leader to fully capitalize on Barrick’s world-class assets and capabilities, and to driving improved performance, growth and shareholder value,” added Mr. Thornton.
