TSX: G NYSE: GG
VANCOUVER, Dec. 4, 2015 /PRNewswire/ - GOLDCORP
INC. (TSX: G, NYSE: GG) today announced that President and
Chief Executive Officer Chuck
Jeannes will retire following the Company's Annual General
Meeting in April 2016. David A. Garofalo, currently President and Chief
Executive Officer of HudBay Minerals Inc., will succeed Mr. Jeannes
as President and Chief Executive Officer and will join Goldcorp's
Board of Directors.
"It has been a tremendous honour to lead Goldcorp over the last
seven years as it has matured into one of the world's leading gold
mining companies," said Mr. Jeannes. "I have had the
privilege of working with an exceptional group of leaders as we
built the foundations for long-lasting success at Goldcorp,
including two key new mines that will drive strong, low-cost
production for many years. I have tremendous respect for
David and look forward to working with him, the Board and the
management team over the next few months to ensure a smooth
transition."
Mr. Jeannes has led Goldcorp since January 2007 and has been with Goldcorp and its
predecessor company Glamis Gold Ltd. for nearly 17 years. His
career has been recognized by numerous distinguished awards and
most recently named Canada's Most
Admired CEO by Waterstone Human Capital and MacKay CEO Forums.
"On behalf of the Board of Directors I would like to thank Chuck
for his dedication and leadership over the past seven years," said
Ian Telfer, Goldcorp Chairman. "He
has been a tireless champion of our industry and instrumental to
Goldcorp's growth during a critical period of the Company's
development. We wish him the best in retirement and continued
success in the next chapter of his distinguished career. The
Board also congratulates David on his appointment, and looks
forward to working with him in the future."
Mr. Garofalo has worked in various capacities in the natural
resources sector over the last 25 years. He served most
recently as President, Chief Executive Officer and Director of
Hudbay Minerals Inc. since 2010 where he presided over that
company's emergence as a leading metals producer. Before
joining Hudbay, David served as Senior Vice President, Finance and
Chief Financial Officer with Agnico-Eagle Mines Limited from 1998
to 2010. Earlier in his career, he served as Treasurer and held
various finance roles with Inmet Mining Corporation from 1990 to
1998. David was named Canada's CFO
of the Year by Financial Executives International Canada in
2009. He was also named Mining Person of the Year by Northern
Miner Magazine in 2012. A graduate of the University of Toronto (B.Comm.), David is a
Chartered Accountant and a Certified Director of the Institute of
Corporate Directors. He also serves on the board of directors of
Mackenzie Health Foundation.
About Goldcorp
Goldcorp is a leading gold producer focused on responsible
mining practices with safe, low-cost production throughout the
Americas. A portfolio of long-lived, high-quality assets
positions Goldcorp to deliver long-term value.
Cautionary Note Regarding Forward Looking
Statements
This press release contains "forward-looking statements", within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 Section 21E of the United States Securities
Exchange Act of 1934, as amended, Section 27A of the United States
Securities Act of 1933, as amended and applicable Canadian
securities legislation, concerning the business, operations and
financial performance and condition of Goldcorp Inc. ("Goldcorp").
Forward-looking statements include, but are not limited to, the
future price of gold, silver, copper, lead and zinc, the estimation
of mineral reserves and resources, the realization of mineral
reserve estimates, the timing and amount of estimated future
production, costs of production, capital expenditures, costs and
timing of the development of new deposits, success of exploration
activities, permitting time lines, hedging practices, currency
exchange rate fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, timing and possible outcome of
pending litigation, title disputes or claims and limitations on
insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes" or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Forward-looking statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performances or achievements of Goldcorp,
including in respect of the transactions, to be materially
different from future results, performances or achievements
expressed or implied by such statements. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which Goldcorp
will operate in the future, including the price of gold,
anticipated costs and ability to achieve goals. In respect of the
forward-looking statement concerning the anticipated timing of
closing of the transactions, Goldcorp has provided it in reliance
on certain assumptions that is believed reasonable at this time,
including assumptions as to the conditions of closing of the
transactions being satisfied in a timely manner. Certain
important factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, among others, the transactions not being
completed as planned, gold price volatility, discrepancies between
actual and estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks,
litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), activities by governmental
authorities (including changes in taxation), currency fluctuations,
the speculative nature of gold exploration, the global economic
climate, dilution, share price volatility, competition, loss of key
employees, additional funding requirements and defective title to
mineral claims or property. Although Goldcorp has attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the
actual results, level of activity, performance or achievements of
Goldcorp to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to:
the risk that the transactions will not be completed as planned,
risks related to the integration of acquisitions; risks related to
international operations, including economic and political
instability in foreign jurisdictions in which Goldcorp operates;
risks related to current global financial conditions; risks related
to joint venture operations; actual results of current exploration
activities; environmental risks; future prices of gold, silver,
copper, lead and zinc; possible variations in ore reserves, grade
or recovery rates; mine development and operating risks; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; risks related to
indebtedness and the service of such indebtedness, as well as those
factors discussed in the section entitled "Description of the
Business – Risk Factors" in Goldcorp's annual information form for
the year ended December 31, 2014
available at www.sedar.com and the United States Securities and
Exchange Commission at www.sec.gov. Although Goldcorp has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
Forward-looking statements are made as of the date hereof and
accordingly are subject to change after such date. Except as
otherwise indicated by Goldcorp, these statements do not reflect
the potential impact of any non-recurring or other special items or
of any dispositions, monetizations, mergers, acquisitions, other
business combinations or other transactions that may be announced
or that may occur after the date hereof. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans and allowing
investors and others to get a better understanding of our operating
environment. Goldcorp does not undertake to update any
forward-looking statements that are included or incorporated by
reference in this document, except in accordance with applicable
securities laws.
SOURCE Goldcorp Inc.