McMullen To Become Next CEO Of Detour Gold
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Bill Williams, who has served as interim CEO since January, will remain on the board as a director. Detour’s previous board majority and leadership were ousted or left after a shakeup effort led by well-known fund manager John Paulson.
“I am excited to be joining the company and look forward to working with the team to continue to build a leading mid-tier gold producer with a strong safety culture and cost performance,” McMullen said. “The company has a unique asset with a long mine life in a low-risk jurisdiction that has the potential to deliver significant value to shareholders.”
McMullen has been in the mining industry for more than 25 years, with experience in all aspects, including exploration, permitting, mine development, financing, operations, product sales, asset acquisition and divestments, and the debt and equity markets. He has managed both open-pit and underground mines in multiple jurisdictions and has experience in a range of commodities, including copper, gold, iron ore and platinum group metals.
Since 2018, McMullen has been senior adviser to Black Mountain LLC, a private company looking to capture high-growth opportunities in the natural-resource sector. He was CEO and director of PGM producer Stillwater Mining Co. from 2013 to 2017 prior to its acquisition by Sibanye Gold Ltd.
“We will greatly benefit from his wealth of experience and his proven track record of building and leading successful teams, employing strict capital discipline, and delivering outstanding returns to investors,” said Dawn Whittaker, interim chair of the Detour Gold board. “We look forward to his leadership in taking the company through its next phase of growth and development.”