- Resolute Mining (RSG) formally appoints Terry Holohan as Chief Executive Officer and Managing Director of the company
- From May 23, Terry Holohan will receive a fixed remuneration of approximately $707,500 per year, along with a short term incentive of up to 112.5 per cent of his salary
- The news comes after a shuffle to Resolute’s board in April, during which time Stuart Gale resigned from the roles of MD and CEO
- Terry Holohan has been holding the role in the interim, after transitioning from the position of Chief Operating Officer
- Resolute Mining is up 3.28 per cent, trading at 31.5 cents at market close
Resolute Mining (RSG) has formally appointed a new Chief Executive Officer and Managing Director to its board.
Terry Holohan will step into the role from May 23, after agreeing to a fixed remuneration of £400,000 (A$707,593) per year. Additionally, he will be granted a short-term incentive of up to 112.5 per cent of his salary.
The news comes after a shuffle to Resolute’s board in April, which saw the abrupt resignation of Stuart Gale as MD and CEO. Following this, Terry Holohan – who had been holding the role of Chief Operating Officer – transitioned into the role in the interim.
Stuart Gale was appointed permanent CEO less than 12 months ago after becoming interim CEO in October 2020, when then-CEO John Welborn also announced his surprise departure after five years at the company’s helm.
The incoming CEO comes with more than 40 years of experience in the mining sector, seven of which were spent as CEO of two mining companies.
His resume includes the role of Business Manager for Anglo Platinum Smelting and Refining, and Senior Vice-President of Ivanhoe Nickel and Platinum.
“We are fortunate to have someone of Terry’s calibre and extensive experience already in the company to assume the CEO role,” Chairman Martin Botha said.
“Terry’s deep technical and operational expertise, as well as his extensive experience in working in Africa will be of particular relevance to the company during the current focus on operational improvement and repositioning for improved shareholder returns.”
Resolute Mining was up 3.28 per cent, trading at 31.5 cents at market close.