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Newmont Announces CEO Transition

DENVER, Dec. 3, 2012 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company) today announced that President and Chief Operating Officer Gary Goldberg will become President and Chief Executive Officer and join Newmont's Board of Directors on March 1, 2013.  He will succeed Richard O'Brien who will step down as CEO and retire from the Board at that time.   

Goldberg joined Newmont in December 2011 as Executive Vice President and Chief Operating Officer, with 30 years' experience in the mining industry. In July 2012 he was promoted to President and Chief Operating Officer.  Prior to joining Newmont, he spent 30 years at Rio Tinto plc in increasingly senior positions in its gold, copper, coal, and industrial minerals businesses, including serving as President and CEO of Rio Tinto Minerals from 2006 to 2011. 

Vincent A. Calarco, Chairman of the Board, said, "The Board is confident in Gary's abilities to lead Newmont forward as CEO, continue to sharpen our plan, drive consistent execution and deliver value for shareholders in the years ahead.  With three decades of experience in the mining industry, he has deep and proven operational expertise, strong strategic and analytical skills and outstanding leadership abilities." 

Calarco added, "On behalf of the Board, I thank Richard for his loyal service to Newmont and for his many contributions to the company over the last seven years, first as CFO and then as CEO.  Richard has built a solid operational foundation, a talented team and a strong balance sheet, all of which position Newmont well for the next stage of its growth and development."

O'Brien said, "It has been an honor to lead Newmont over the past five years and I am very proud of what we have accomplished as a team.  I believe Gary is an excellent choice to succeed me and will be a strong leader.  I have great confidence in his abilities and look forward to working with him in a smooth transition over the next three months."

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