Cameco Names Financial Chief

Uranium producer Cameco (CCJ) named Kim Goheen senior vice president and chief financial officer, effective Aug. 1, 2004.

Goheen joined Cameco in 1997 as treasurer and was appointed vice president in 1999. He played a key role in the recent launch of Centerra Gold, which is listed in Toronto, Cameco said.

"Solid administration of Cameco's financial resources will be required as we pursue our vision to become a dominant nuclear energy company in the years ahead," said CEO Jerry Grandey. "Kim's knowledge, experience and firm sense of direction will help our management team achieve the company's goals."

The appointment comes just three weeks after Saskatoon, Saskatchewan-based Cameco formally amended an agreement to buy uranium derived from dismantled Russian nuclear weapons through a joint venture. The venture takes highly enriched uranium from Russian nuclear weapons, blends it down to so-called low enriched uranium for power plant fuel, and sells it in the U.S. and elsewhere.

Last month's deal provides that Cameco and its partners, known as Cogema and RWE Nukem, will forgo part of their future options on some uranium to ensure there is sufficient material in Russia for blending down the weapons grade highly enriched uranium to commercially usable low enriched uranium.

The company said the change was needed "in light of Russia's rising requirements for uranium to fuel their expanding nuclear plant construction program within Russia and abroad."

On Tuesday, Cameco slipped a dime to $58.72.

More from Stocks

The Quick Answer Why Trump's Trade War Makes Stocks at Least 10% Overvalued

The Quick Answer Why Trump's Trade War Makes Stocks at Least 10% Overvalued

China Central Bank Governor Says Stay 'Calm and Rational' After Market Free Fall

China Central Bank Governor Says Stay 'Calm and Rational' After Market Free Fall

Marriott CEO on Tax Cuts, Trade War Worries and China's Economy

Marriott CEO on Tax Cuts, Trade War Worries and China's Economy

50 Stocks Goldman Sachs Thinks Can Triumph Over Wage Inflation

50 Stocks Goldman Sachs Thinks Can Triumph Over Wage Inflation

Cloud and Defense Stocks Could Be Big Winners in a Trade War

Cloud and Defense Stocks Could Be Big Winners in a Trade War