DENVER-
Newmont Mining Corp. Wayne Murdy announced Tuesday he’ll retire as chief executive officer of one of the world’s leading gold producers effective July 1.
Murdy has served as CEO of Newmont since January 2001, leading the company’s 2002 acquistion of Australia’s Normandy Mining Ltd. and Canada’s Franco-Nevada Mining Corp.
“During Murdy’s tenure, market capitalization went from about $5 billion, to what it is today, approximately $19 billion,” company spokesman Omar Jabara said. “In 2006, Newmont had record earnings of $791 million.”
Murdy, who turns 63 in July, cited a recent health issue and family considerations as influencing his decision to retire. Jabara said Murdy was not available for comment.
Murdy will serve as board chairman until the end of 2007, according to a statement.
Richard T. O’Brien, who joined Newmont in 2005 as chief financial officer and recently also served as president, will take over as CEO and president once Murdy steps down. O’Brien joined Newmont in 2005 after serving as a senior executive at AGL Resources and Pacificorp.
“We have benefited significantly from Dick’s talents and perspectives, and he is the natural leader of Newmont’s executive team as we move forward,” Murdy said in a statement.
Newmont’s shares slipped 8 cents Tuesday to close the regular session at $41.43 a share.
