Rob Henderson named Great Panther CEO; David Garofalo board chair
Meanwhile, David Garofalo has been named as the new board chair, effective immediately. He was most recently president and chief executive of Goldcorp Inc. until its sale to Newmont Corp. a year ago in a move that created the world’s largest gold-mining company.
Henderson is an engineer and mining executive with 35 years of experience in operations, capital projects and mine finance. Most recently, he was president and CEO of Amerigo Resources Ltd., a copper producer with assets in Chile. Prior to Amerigo, he was senior vice president of technical services with Kinross Gold Corp.
“His strong technical skills, combined with operating and executive experience and extensive track record in Latin America, make him ideal to lead Great Panther through its next stage of growth,” said lead independent director Bob Garnett.
Great Panther's operations include the Tucano Gold Mine in Brazil and the Topia Mine and Guanajuato Mine Complex in Mexico. The company also owns the Coricancha Mine in Peru, which is currently on care and maintenance.
“My immediate priorities will be to continue building on cost and operating efficiencies at Tucano and grow production at all three mines,” Henderson said. “I see tremendous potential in the asset base and am looking forward to leading the company through this period of transition into a mid-tier precious-metals producer.”
Henderson succeeds interim president and CEO Jeffrey Mason, who also had been chairman of the board of directors. Mason has stepped down from these roles and has resigned from the board, but will continue to provide consulting services to ensure a smooth transition, the company said.
In addition to Garofalo, Joseph Gallucci and Alan Hair have joined the board. The company described Gallucci and Hair as experienced mining professionals with track records of creating shareholder value in the mining industry.
Bob Archer will remain on the board until the upcoming annual meeting on June 24, but will not stand for re-election, the company said. Instead, he will serve Great Panther in an advisory capacity. Archer is co-founder of the company and served as president and CEO from 2004 until 2017, remaining a director since.
Great Panther said the board additions will result in a slate of nine directors as of this year’s annual meeting in order to allow for an orderly continuity amid the leadership changes. However, the number will be reduced to seven, of which six will be independent, by the 2021 annual meeting, the company said.