/NOT FOR DISSEMINATION OR DISTRIBUTION IN
THE UNITED STATES AND NOT FOR
DISTRIBUTION TO US NEWSWIRE SERVICES./
BRISBANE, Australia, Feb. 10,
2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX:
OGC) (the "Company") is pleased to announce the appointment of
Mr. Gerard Bond as the Company's new
President and Chief Executive Officer ("CEO") effective
April 4, 2022. Mr. Bond will also
serve as a member of the Board of Directors (the "Board").
Mr. Paul Benson, Chairman of the
Board, said, "On behalf of the Board of OceanaGold, I would like to
extend a warm welcome to Gerard. Following an extensive executive
search, we are pleased to have attracted such an accomplished and
recognised executive to lead OceanaGold forward. Gerard has
demonstrated strong leadership during his career, brings a wealth
of commercial and industry experience and has a proven track record
of driving performance and delivering on business potential. This
appointment marks an exciting new chapter for OceanaGold and the
Board is looking forward to working with him to maximise the value
of the Company."
Mr. Bond has extensive experience in global finance and the
resources industry and has held numerous senior executive roles
across Europe and Australia. Most recently, he was the Finance
Director and Chief Financial Officer at Newcrest Mining Limited
from January 2012 to January 2022, a period of considerable
operational, financial and growth transformation. Prior to joining
Newcrest, Mr. Bond was with BHP for over 14 years where he held
various senior executive roles in Mergers and Acquisitions,
Treasury, as Deputy CFO of the Aluminium business, CFO and then
Acting President of the Nickel business, and finally as BHP's Head
of Group Human Resources. Prior to joining BHP, Mr. Bond worked in
Corporate Finance for Coopers & Lybrand.
Mr. Bond said, "I am honoured and delighted to join OceanaGold
as President and CEO. The Company has an exciting portfolio of
assets and growth opportunities. I look forward to working closely
with the Board, the leadership team and the workforce to safely and
responsibly drive improved operating and financial performance,
realise the full potential of the Company's growth opportunities
and to maximise value and returns to shareholders."
Mr. Scott Sullivan will continue
as Acting President and CEO until Mr. Bond's commencement on
April 4, 2022, following which he
will revert to his role as Chief Operating Officer and support the
leadership transition. Mr Benson added, "The Board wishes to
express its sincere gratitude to Scott for serving as our Acting
CEO during a challenging period for the Company. Through his
extensive technical experience and that of the technical bench
strength that now exists in the Company along with Gerard's
appointment as CEO, we are well placed to deliver on our
commitments and regain our favoured market position."
Authorised for release to market by OceanaGold Corporate Company
Secretary, Liang Tang.
About OceanaGold
OceanaGold is a multinational gold producer committed to the
highest standards of technical, environmental, and social
performance. For 30 years, we have been contributing to excellence
in our industry by delivering sustainable environmental and social
outcomes for our communities, and strong returns for our
shareholders.
Our global exploration, development, and operating experience
has created a significant pipeline of organic growth opportunities
and a portfolio of established operating assets including Didipio
Mine in the Philippines; Macraes
and Waihi operations in New
Zealand; and Haile Gold Mine
in the United States of
America.
Additional Information Pursuant to ASX Listing Rule
3.16.4
In accordance with ASX Listing Rule 3.16.4, the Company provides
the following disclosure in relation to Mr. Gerard Bond's employment contract.
Mr. Bond will be remunerated as following:
- Annual total base salary of A$880,000
- Superannuation contribution of 10 per cent of base salary (up
to the maximum contribution base)
- Eligibility to receive annual bonus target of up to 90 per cent
of base salary
- Long term incentive plan award of 300 per cent of base
salary
Mr. Bond's employment agreement may be terminated in the
following circumstances:
- Mr. Bond may terminate the employment by giving Company six
months' notice.
- The Company may terminate the employment by giving Mr. Bond six
months' notice or making payment in lieu of all or any part of the
notice period.
- Termination by the Company without notice for serious
misconduct or other act or omission justifying summary
dismissal.
Having regard to North American remuneration practices and to
ensure that the Company remains competitive with comparable TSX
listed corporations, the Company will be seeking a waiver from the
Australian Stock Exchange Listing Rule 10.18 in relation to certain
payments payable on Mr. Bond's termination due to change of control
of the Company, including two years' fixed annual remuneration and
target performance bonus, and deemed vesting of long-term incentive
grants.
Cautionary Statement for Public Release
Certain information contained in this public release may be
deemed "forward-looking" within the meaning of applicable
securities laws. Forward-looking statements and information relate
to future performance and reflect the Company's expectations
regarding the generation of free cash flow, achievement of
guidance, execution of business strategy, future growth, future
production, estimated costs, results of operations, business
prospects and opportunities of OceanaGold Corporation and its
related subsidiaries. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ materially from those expressed in the forward-looking
statements and information. They include, among others, the
outbreak of an infectious disease, the accuracy of mineral reserve
and resource estimates and related assumptions, inherent operating
risks and those risk factors identified in the Company's most
recent Annual Information Form prepared and filed with securities
regulators which is available on SEDAR at www.sedar.com under the
Company's name. There are no assurances the Company can fulfil
forward-looking statements and information. Such forward-looking
statements and information are only predictions based on current
information available to management as of the date that such
predictions are made; actual events or results may differ
materially as a result of risks facing the Company, some of which
are beyond the Company's control. Although the Company believes
that any forward-looking statements and information contained in
this press release is based on reasonable assumptions, readers
cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether as a result of new information, events or otherwise, except
as required by applicable securities laws. The information
contained in this release is not investment or financial product
advice.
www.oceanagold.com | Twitter:
@OceanaGold
SOURCE OceanaGold Corporation