Smith to quit as MD and CEO of Newcrest

Business, Normal

The National – Monday, February 14, 2011

THE board of Newcrest Mining Ltd has announced that Ian Smith will step down as managing director and chief executive officer on July 1 this year.
The current executive director finance Greg Robinson will succeed Smith.
Newcrest chairman Don Mercer said the board was “very pleased to appoint” Robinson as his broad role in Newcrest covering finance, strategy, planning and business development activities, coupled with his previous experience at BHP and Merrill Lynch, make him “extremely well suited to lead Newcrest through the next phase of the company’s growth and development”.
Mercer said the board also agreed that following the formidable and productive five year Smith-Robinson partnership, this was the most appropriate time in the company’s on-going development for this transition to occur.
It is the board’s present intention that after a reasonable period of separation from the company, Smith be invited to join the board as a non-executive director.
He said: Newcrest has been through substantial change over the past five years and the threats and opportunities facing the company that were apparent at the start of my tenure have been largely addressed and outcomes delivered.
Smith said he was now looking forward to following the continued growth of Newcrest and offered his ongoing support in whatever manner that may assist Newcrest.
Robinson said it was an honour to be asked to lead Newcrest and looked forward to working for its next phase of  devlopment.