Norton Gold Fields announces new CEO

Norton Gold Fields has announced the appointment of Dianmin Chen as its new CEO.

Chen will step into the position immediately, and begins his job today.

Chen was previously the COO of CITIC Pacific Mining, and was responsible for the development of CITIC's iron ore mine in the Pilbara.

Norton chairman Jinghe Chen said the "board is extremely enthusiastic about securing the services of an executive with Chen's broad resources industry background and business experience".

Chen will be replacing former CEO Andrew Labuschange, who has agreed to step down from the role today.

Labuschange has been with the company since 2010 and played a major part in the settlement of the hedge litigation with Lehman Brothers.

The company gave no reason for the sudden executive change.

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