mick thanks, good NGX chart Northgate Announces Retirement of President and CEO Ken Stowe
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VANCOUVER, May 10 /CNW/ - Northgate Minerals Corporation
("Northgate" or the "Company") (TSX: NGX) (NYSE Amex: NXG)
today announced that its President and Chief Executive Officer
(CEO), Ken Stowe, intends to retire on the appointment
of his successor.
Mr. Stowe joined Northgate in 1999 and has been CEO since 2001.
Mr. Stowe shared his retirement plans now to provide ample
time to complete the recruitment and hiring process.
A search will be conducted with the goal to select and
transition to a new President and CEO by the end of 2011.
The Board has designated the Corporate Governance and
Compensation Committee, chaired by Mark Daniel, to oversee
a comprehensive search process to identify Ken's successor,
taking both internal and external candidates into consideration.
Terry Lyons, Chairman, said:
"The Board is very appreciative of the contribution Ken has made
during his time at Northgate.
He has overseen the growth of the Company, the development
of Kemess into one of the most efficient and prolific gold
and copper mines in the world and, in Young-Davidson,
the establishment of another strong core asset for the Company.
He has also developed an excellent executive team that will
build on his accomplishments and continue to strengthen
I would like to take this opportunity to thank Ken for all that
he has done for the Company over the last twelve years."
"Ken remains in full control of the business until a successor
This will ensure continuity of strong management and will
support the achievement of our strategic objectives while
arrangements are made to find his successor."
Ken Stowe, Chief Executive Officer, added:
"It has been a privilege to lead Northgate and to work alongside
some of the most talented and capable people in the industry.
As I approach the tenth anniversary of my tenure as CEO,
I believe that the time is right to plan for my retirement.
The Company now has an exciting and excellent portfolio of
assets, and a strong platform from which we plan to grow
further and build towards the future."
During his distinguished career, Mr. Stowe has served as Vice
President, Technology of Diamond Fields Resources, where he
was responsible for the feasibility study of the Voisey's Bay
nickel-copper deposit and as Vice President, Operations
of Westmin Resources, where he oversaw the successful startup
of the Lomas Bayas copper mine in Chile.
He then moved on to Northgate to take on the significant
challenge of re-launching the Company as an operating entity
through the turnaround of the then recently-commissioned but
floundering Kemess South gold-copper mine. Kemess South ultimately became one of the lowest cost gold
mines in the world.
In 2006, Mr. Stowe was the recipient of the prestigious
Canadian Mineral Processor of the Year Award. Northgate Minerals Corporation is a gold and copper producer
with mining operations, development projects and exploration
properties in Canada and Australia.
Our vision is to be the leading intermediate gold producer
by identifying, acquiring, developing and operating
profitable, long-life mining properties. http://www.northgateminerals.com/news-and-media/press-releases/press-releases-details/2011/Northgate-Announces-Retirement-of-President-and-CEO-Ken-Stowe1125228/default.aspx