St Barbara has announced its chief executive officer and managing director Bob Vassie is retiring in 2020, with Craig Jetson his successor.
After five years in the role, Vassie has advised his forfeiture of leading the company to spend more time with his family in Brisbane.
Jetson will take the reins, drawing upon his previous experience as executive general manager at Cadia and global technical services at Newcrest Mining.
Alongside long-term senior operating roles at Nyrstar and Zinifex in Australia, USA, Canada and Europe, Jetson’s knowledge and anticipated capabilities are endorsed by St Barbara’s Board.
Jetson’s start date is February 3 2020, with Vassie remaining as Jetson’s support throughout the handover, its completion to be expected by the end of March 2020.
St Barbara non-executive chairman Tim Netscher, noted that a key task for a diligent board of directors is to continuously undertake CEO succession planning.
The board’s nomination and remuneration committee selected Jetson from a short-list of high calibre candidates.
“There is never an ideal time for a well performing CEO to move on,” Netscher said.
“Vassie has achieved a remarkable turnaround of the company, which restored the balance sheet and set a platform for growth through life extensions at Leonora and Simberi and successful mergers and acquisitions.”
St Barbara’s Gwalia extension project, the further integration of Atlantic Gold and the progress on the Simberi sulphide project will be delivered throughout Vassie and Jetson’s handover.
Vassie has publicly stated his difficult decision is the right one now for himself and his family.
“My time at St Barbara has been the highlight of my career, especially working with such a fantastic team, a team that has delivered some incredible achievements.”
“I am very focussed on progressing our key priorities for the next quarter and I look forward to supporting Jetson during the transition over the coming months.”
Jetson added his delight to be selected to lead St Barbara, stating “Whilst Gwalia and Simberi are great operations, both with upside potential, the growth assets acquired with Atlantic Gold are especially exciting.
“I believe that I am well qualified to ensure their timely development for all shareholders.”