TORONTO, Dec. 10, 2018 /PRNewswire/ - New Gold Inc. ("New
Gold" or the "Company") (TSX:NGD) (NYSE American:NGD) announces a
reorganization of the senior leadership team.
As part of the strategy to reposition New Gold for long-term
success, the Company's asset base has been reduced to two core
operating assets that include the Rainy River and New Afton Mines
and the Blackwater project, following the divestment of the
Mesquite and Peak Mines earlier in the year. As a result, the
senior management team has been reorganized to better align the
corporate structure with the smaller asset base.
In connection with this restructuring, the following positions
have been eliminated:
- VP, Treasurer and Technology (Martin
Wallace)
- VP, Planning and Advisory (Kashif
Farooq)
- VP, Projects (Peter
Woodhouse)
- VP, Reporting and Tax (Rajesh
Deora)
- VP, Exploration (Mark
Petersen)
To strengthen the depth of technical and operational experience
at the senior corporate level, the Company will be appointing a
Vice President, Technical Services in the near future. Reporting
directly to the Chief Executive Officer, this position will assume
the responsibilities of creating organic growth, including projects
and exploration, as well as providing technical and operational
oversight to the organization.
"Today's announcement marks another step forward in our strategy
to reposition New Gold for the future. It was a difficult,
but necessary decision to readjust the size of the corporate team
to reflect our new reality," stated Renaud
Adams, President and Chief Executive Officer. He continued,
"On behalf of management and the Board of Directors, I want to
acknowledge the significant contributions of each of these talented
individuals, and we wish them all the best with their future
endeavours."
About New Gold Inc.
New Gold is a Canadian-focused intermediate gold mining company.
The Company has a portfolio of two core producing assets in
top-rated jurisdictions, the Rainy River and New Afton Mines in
Canada. The Company also operates
the Cerro San Pedro Mine in Mexico
(which transitioned to residual leaching in 2016). In addition, New
Gold owns 100% of the Blackwater project located in Canada. New Gold's objective is to be a
leading intermediate gold producer, focused on the environment and
social responsibility. For further information on the Company,
please visit www.newgold.com.
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SOURCE New Gold Inc.