- New Hope Corporation (NHC) has appointed Reinhold Schmidt as the new CEO, effective from September 1st
- This comes after current CEO and Managing Director, Shane Stephan, announced his retirement after 11 years at the company
- Reinhold has over 20 years' experience in the mining industry
- Most recently, he was CEO of Yancoal Australia for seven years following over five years in leadership roles at Xstrata Coal
- Company shares have dropped 1.79 per cent to trade for $1.38 each just before market close
New Hope Corporation (NHC) has appointed Reinhold Schmidt as the new CEO, effective from September 1 2020.
This follows former CEO and Managing Director, Shane Stephan's, decision to retire after 11 years at the company.
The announcement was made on May 12 and Shane will retire from his roles on August 31.
The company undertook a comprehensive selection program with the help of an independent executive search firm.
Reinhold has over 20 years' experience in the mining industry. His most recent role was as CEO of Yancoal Australia where he held this position for almost seven years.
He was also the Executive General Manager of the Wandoan Project for Xstrata Coal from February 2008 until February 2009. From March 2009, he transitioned into the role of Xstrata's Chief Operating Officer until June 2013.
"We look forward to Reinhold joining the company. He is an experienced mining executive whose strategic focus and deep understanding of the Australian coal industry will benefit the company," Chairman Robert Millner said.
Reinhold is joining the company as it endeavours to drive performance for its 80 per cent-owned Bengalla Mine.
Company shares have dropped 1.79 per cent to trade for $1.38 each just before market close.