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- Dacian Gold (DCN) CEO Dale Richards is stepping down from the top role amid a string of board and management changes for the gold explorer
- With an off-market takeover deal with Genesis Minerals (GMD) now closed, Mr Richards will return to the position of General Managing, Geology and Exploration
- Current Chief Financial Officer and Company Secretary Derek Humphry will assume the role of Interim CEO to complete Dacian’s transition to explorer and developer
- Meanwhile, Tony Kiernan has also retired as one of the Genesis Minerals-nominated directors on the Dacian board, to be replaced by current Genesis Non-Executive Director Gerry Kaczmarek
- Dacian Gold shares are down 1.02 per cent to 9.7 cents at 10:30 am AEDT
Dacian Gold (DCN) Chief Executive Officer Dale Richards has stepped down from the top role amid a string of board and management changes for the gold explorer.
With an off-market takeover deal with Genesis Minerals (GMD) closed, Mr Richards has returned the position of General Manager, Geology and Exploration.
As such, current Chief Financial Officer and Company Secretary Derek Humphry has assumed the role of Interim CEO to complete Dacian’s transition to explorer and developer.
“Derek’s current role and knowledge of Dacian enables him as Interim Chief Executive to manage the successful transition to developer and explorer and unlock significant opportunities for future sustainable production and growth,” Dacian Non-Executive and Independent Chair Craig McGown said.
Despite the transition, there will be no change to his existing remuneration of $400,200 per annum plus superannuation.
Meanwhile, Tony Kiernan has also retired as one of the Genesis Minerals-nominated directors on the Dacian board.
He will be replaced by Gerry Kaczmarek, a current Non-Executive Director for Genesis.
“We thank Tony for his wisdom and experience during the transition of Dacian into the Genesis group, and welcome Gerry to the board as a well-credentialled replacement,” Mr McGown said.
Mr Kaczmarek brings with him almost 40 years of experience in the resources sector, specialising in finance and company management with several leading mid-tier gold companies.
The board shuffle follows Genesis Minerals’ off-market takeover of Dacian Gold in a deal worth $111 million back in July last year, leaving Genesis holding a 78.3 per cent interest in the company.
Dacian said it would now focus on its resource and reserve growth, mining studies and expansion of water supply and tailing storage capacity at the Mt Morgans mill in Western Australia.
Dacian Gold shares were down 1.02 per cent to 9.7 cents at 10:30 am AEDT.
