Kingsgate Consolidated Limited (ASX: KCN) wishes to advise that Managing Director and Chief Executive Officer, Gavin Thomas, will be stepping down from that role, effective June 2014, after nearly ten years in the position, and after some recent health issues. The Company has commenced a succession process for the position of Chief Executive Officer.
To maintain a high level of corporate continuity, Mr Thomas will remain on the Board of Kingsgate as an Executive Director, to assist the transition to the new leadership.
The Chairman, Ross Smyth-Kirk said, “Gavin’s contribution to Kingsgate and the wider industry has been extraordinary, in both dedication and discovery. Gavin’s legacy to the mining industry goes well beyond his time at Kingsgate, with more than 40 years’ operating throughout the world.
Under Gavin’s leadership, Kingsgate has evolved from a single operation in Thailand into a geographically diversified asset base that is well placed to enable the Company to grow into the future.”
In addition, with the Nueva Esperanza Definitive Feasibility Study close to completion, it heralds an exciting new time for Kingsgate that allows a new Chief Executive Officer to be part of the development, construction and commissioning of this important project.
Mr Thomas said “The Company’s operating and development portfolio is well placed to support the ongoing success of Kingsgate, and preparations are underway on development timetables to maximise the underlying value of those assets.
I am confident that there will be a smooth transition in the Company leadership team, and I look forward to continuing to make a valuable contribution.”