Sept 29 (Reuters) - Newmont (NEM.N),on Monday named Natascha Viljoen as its first female CEO, succeeding Tom Palmer, at a time when the gold mining sector tries to cope with a slew of challenges, even as the precious metal hits a series of new highs.
Viljoen's appointment coincides with the abrupt resignation of Mark Bristow as CEO of rival Barrick Mining (ABX.TO),earlier in the day.
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Shareholders are pressing for stronger returns to match successive all-time highs in the gold price, even as companies grapple with rising costs, resource nationalism and growing expectations to align with the energy transition.
Palmer will step down as Newmont's top boss on December 31 and serve as a strategic adviser until his retirement in March next year.
He joined Newmont in 2014 and became its chief operating officer in 2016 before being appointed as CEO in 2019.
During his tenure, Newmont completed transformative deals, including the Goldcorp acquisition, the Nevada Gold Mines joint venture and the $17 billion acquisition of Australian mining company Newcrest to create a top-tier global portfolio.
Viljoen, who joined Newmont as chief operating officer in 2023, brings more than 30 years of global mining experience, including senior roles at Anglo American (AAL.L), opens new tab, BHP (BHP.AX), opens new tab, and Lonmin, and as CEO of Anglo American Platinum.
At Newmont, she has focused on operations, portfolio integration, and talent development, emphasizing safety, operational excellence and sustainability.
RBC Capital Markets analyst Josh Wolfson said over time, Newmont had been signaling a succession plan was in place, including an announcement in May 2025 that Viljoen would be promoted to the role of president.
Earlier this year, Karyn Ovelmen also announced her decision to step down as the chief financial officer of Newmont, after just over two years at the company. Insider Peter Wexler was named as interim CFO.
Newmont shares opened at a record high of $87.93 on Monday, before reversing gains and falling over 1% to $84.98.
Reporting by Vallari Srivastava in Bengaluru; Editing by Shilpi Majumdar and Anil D'Silva
