DENVER – Newmont Corporation (NYSE: NEM), a global leader in gold production, announced the appointment of Francois Hardy as its new Chief Technology Officer (CTO), effective May 1, 2024. Hardy, a seasoned professional with over 30 years in the mining industry, will be joining the company's Executive Leadership Team to drive technological advancements and operational improvements.
Hardy's extensive experience includes various leadership roles within Newmont since 2002, such as Group Head Exploration and Managing Director for Africa. His track record in enhancing operational performance has been recognized by the company's President and CEO, Tom Palmer, who stated that Hardy's technical expertise will be crucial for Newmont's continued success.
The new CTO will succeed Dean Gehring, who has been serving as interim CTO while also fulfilling the responsibilities of Chief Integration Officer. Gehring is set to depart from the company in early July following a transition period.
Before his long-standing tenure at Newmont, Hardy held executive positions at Avmin Ltd and De Beers Consolidated Mines. He is a graduate of the Technikon Witwatersrand with a BSc in Mine Engineering and holds a National Higher Diploma in Metalliferous Mining from the University of Johannesburg.
Hardy will be based in Denver at Newmont's headquarters, where he will focus on leveraging new technologies to enhance the company's operations. This appointment comes at a pivotal time for Newmont as the company continues to prioritize innovation within its growth strategy.
Newmont, established in 1921 and publicly traded since 1925, is not only the world's leading gold company but also produces copper, zinc, lead, and silver. With a portfolio spread across Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea, the company is the sole gold producer listed in the S&P 500 Index.
This news article is based on a press release statement from Newmont Corporation.
InvestingPro Insights
As Francois Hardy steps into the role of Chief Technology Officer at Newmont Corporation (NYSE: NEM), investors may take note of several key financial metrics and analyst insights that could impact the company's performance. According to InvestingPro data, Newmont's market capitalization stands at a robust $44.45 billion, reflecting its significant presence in the gold production industry.
The company's Price to Earnings (P/E) Ratio is currently at -12.97, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -99.62. This negative P/E ratio indicates that Newmont has faced challenges in maintaining profitability over the past year. Despite this, analysts are expecting a turnaround, as indicated by an InvestingPro Tip that predicts net income growth this year. This could be a sign of potential recovery and a positive outlook for investors considering the company's technological advancements and operational improvements.
Furthermore, Newmont has demonstrated a commitment to its shareholders by maintaining dividend payments for 54 consecutive years, with a current dividend yield of 2.59%. This consistent return to investors is a testament to the company's financial stability and long-term strategy.
Investors interested in a deeper analysis of Newmont's financial health and future prospects can find additional insights on InvestingPro. There are currently 5 more InvestingPro Tips available at https://www.investing.com/pro/NEM. For those looking to leverage these insights, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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