Tuesday, 11th January 2005 (2855 views)

Kinross Gold, one of the world's largest gold producers is on the hunt for a new CEO after incumbent chief executive and President, Robert Buchan, announced he is to step down from his positions.

Mr Buchan, who founded the Toronto-based miner in 1993, is the third high profile senior staff member to leave the firm, following chief financial officer Brian Penny and corporate affairs vice-president Gord McCreary, who both resigned in 2004.

Buchan will quit his posts on April 27th after Kinross's annual meeting but will maintain a significant presence in the company as non-executive chairman.

Kinross is said to have produced about 1.7 million ounces of gold last year.

Last week the firm completed a deal to buy Rio Tinto's 51 per cent interest in Rio Paracatu Mineracao, the owner of the Morro do Ouro mine in Brazil, for $260 million (£138.5 million).

 

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