Buenaventura Announces Separation of Chairman and CEO Roles
December 05 2016 - 9:35AM
Business Wire
Compañía de Minas Buenaventura S.A.A. (“Buenaventura”) (NYSE:
BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly traded
precious metals mining company, today announced that in the
interest of the Company’s best practices of corporate governance,
its Board of Directors has decided to separate the Chairman and CEO
roles, as it was mentioned during the last conference call (October
27, 2016). Thereby, the Board has accepted the resignation of Mr.
Roque Benavides (62) as the Company's Chief Executive Officer,
effective January 2, 2017. Mr. Benavides will remain as Chairman of
the Board of Buenaventura and continue collaborating with the
company.
The Board of Directors appointed Mr Victor Gobitz (52) as the
new Chief Executive Officer of Buenaventura, effective January 02,
2017.
During his twenty five-year career in the mining industry, Mr.
Víctor Gobitz has held senior leadership positions with
industry-leading mining companies in Peru, Chile, Brazil and
Canada. He was COO of Sociedad Minera El Brocal and is well known
in our organization. He has served as CEO of Compañia Minera Milpo
and other mining companies. Mr. Gobitz has a degree in Mining
Engineering by the Pontificia Universidad Catolica del Peru,
received an MBA from the Escuela de Administracion de Negocios
(Universidad ESAN) and he has executive education from Wharton and
Kellogg business schools.
"Separating again the role of Chairman of the Board and Chief
Executive Officer for Buenaventura is consistent with our Company’s
efforts to ensure we maintain the best practices of corporate
governance throughout our organization. I have thoroughly enjoyed
my years as executive of Buenaventura and appreciate the support
from our Board, shareholders, employees and business partners. I
have tremendous respect for Víctor; under his leadership we will
continue working towards excellence with considerable mining
industry experience. I am confident that our management team is
highly motivated to build upon our success in the years ahead.
I will continue as Chairman of the Board supporting the new CEO
and the generational transition that this appointment represents."
said Mr. Benavides.
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest,
publicly traded precious metals Company and a major holder of
mining rights in Peru. The Company is engaged in the mining,
processing, development and exploration of gold and silver and
other metals via wholly owned mines, as well as through its
participation in joint exploration projects.
Buenaventura currently operates several mines in Peru
(Orcopampa*, Uchucchacua*, Mallay*, Julcani*, El Brocal (61.29%),
La Zanja (53.06%) and Coimolache (40.10%) and is developing the
wholly owned Tambomayo Project.
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership
with Newmont Mining Corporation), an important precious metal
producer and 19.58% of Sociedad Minera Cerro Verde, an important
Peruvian copper producer.
For a printed version of the Company’s 2015 Form 20-F, please
contact the persons indicated above, or download a PDF format file
from the Company’s web site.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release may contain forward-looking information (as
defined in the U.S. Private Securities Litigation Reform Act of
1995) that involve risks and uncertainties, including those
concerning the Company’s, Yanacocha’s and Cerro Verde’s costs and
expenses, results of exploration, the continued improving
efficiency of operations, prevailing market prices of gold, silver,
copper and other metals mined, the success of joint ventures,
estimates of future explorations, development and production,
subsidiaries’ plans for capital expenditures, estimates of reserves
and Peruvian political, economic, social and legal developments.
These forward-looking statements reflect the Company’s view with
respect to the Company’s, Yanacocha’s and Cerro Verde’s future
financial performance. Actual results could differ materially from
those projected in the forward-looking statements as a result of a
variety of factors discussed elsewhere in this Press Release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161205005765/en/
Contacts in LimaCarlos Galvez, Chief Financial OfficerTel (511)
419 2540orDaniel Dominguez, Manager of Financial Planning and
Investor RelationsTel (511) 419
2591daniel.dominguez@buenaventura.peorRodrigo Echecopar, Investor
Relations CoordinatorTel (511) 419
2609rodrigo.echecopar@buenaventura.peorContacts in New YorkMaria
Barona - Rafael Borjai-advize Corporate CommunicationsTel (212) 406
3691 - 3693
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