West Red Lake Gold Mines Inc (fka WRLG)

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read the Goldcorp news out after close great for RLG


Goldcorp appoints Ball as CFO, Orazietti as controller

2016-03-09 17:23 ET - News Release
Shares issued 830,337,284
G Close 2016-03-09 C$ 20.86


Mr. David Garofalo reports

GOLDCORP ANNOUNCES SENIOR MANAGEMENT CHANGES

Goldcorp Inc. is making changes in senior leadership as the company exits a phase of intensive project development, and now focuses on optimizing the performance of its portfolio of low-cost mines and advancing a robust organic project pipeline.

The business renewal strategy is designed to ensure disciplined capital allocation through a decentralized management approach. Under the new management structure, mine general managers will be empowered to act as business owners and will be held accountable for maximizing the return on the capital invested in, while growing the net asset value of, their businesses. These operations will be supported by a leaner senior executive team at the company's head office.

"We will seek more efficiency in our operations and will reinvest into a robust pipeline of existing organic growth opportunities. We believe this strategic renewal offers the best potential returns with the lowest-risk profile," said David Garofalo, president and chief executive officer. "The changes in our team and streamlined reporting structure will support our strategy and accelerate our achievement of improved results."

As part of the company's senior management reorganization, Russell Ball, executive vice-president of corporate development and capital management, will assume the chief financial officer role, effective immediately. He replaces Lindsay Hall, executive vice-president and CFO, who has left the company to pursue other interests. Mr. Ball joined Goldcorp in 2013, from Newmont Mining Corp., where he served as CFO from 2007 to 2013. In his new role, he will continue to oversee the company's corporate development activities. In addition, the following changes to the finance leadership team were also made:

• Richard Orazietti will assume the role of senior vice-president and controller. Mr. Orazietti has been vice-president, internal audit, at Goldcorp since 2012;
• David Stephens will assume the role of vice-president and treasurer. Mr. Stephens joined Goldcorp in 2014, after starting his career in investment baking. He most recently worked as director, corporate development, at Goldcorp.
• Rohan Athaide will assume the role of vice-president, internal audit. Mr. Athaide joined Goldcorp in 2012, and most recently worked as director, internal audit.


"I would like to congratulate Richard, David and Rohan on their promotions, and I am confident they bring the right financial acumen and skills to support our focus on disciplined capital allocation," said Mr. Garofalo.

George Burns, executive vice-president and chief operating officer, will continue driving operational performance. Business unit leaders Chris Woodall (Canada and the United States) and Joe Dick (Latin America) will provide regional oversight of operations and will each be supported by regional CFOs, two newly created positions for which a search process is also under way. The responsibility for project