Oct 19, 2020

Welborn steps down from Resolute role

Welborn steps down from Resolute role

Resolute Mining is in the market for a new chief executive officer after John Welborn stepped down from the role after five years.

Resolute chief financial officer Stuart Gale has been appointed as interim CEO while an executive search process is undertaken.

Resolute managing director and CEO John Welborn.

Resolute chairman Martin Botha said Mr Welborn had worked hard to reposition and transform the business over the past five years.

“Under his leadership, Resolute has been active corporately to build its mining profile and dual-list on the London Stock Exchange. On behalf of the Board I would like to thank him for his valuable contribution and wish him well in his future endeavours.”

The time was right to introduce a new CEO to take Resolute forward, to deliver improvement in operational outcomes and resilience, and to deliver the next phase of sustainable value for the company, Mr Botha said.

While Mr Welborn was at the helm, Resolute executed a $300 million deal to sell the Ravenswood gold operations in North Queensland to new owners EMR Capital and Golden Energy and Resources.

“The sale of our Ravenswood gold mine delivers on our objective of ensuring a new long-life future for Ravenswood while maximising value for Resolute shareholders,” he said at the time.

“Settlement enables us to focus our attention and energy on our African portfolio and the abundant opportunities for further growth and value creation.”