Summary
Newmont Mining Corporation (NEM) has filed an 8-K report to announce a significant executive appointment. Chris Robison, a seasoned mining executive with over 32 years of experience in various mining sectors, has been appointed Executive Vice President, Operations and Projects, effective May 1, 2013. Mr. Robison's extensive background includes leadership roles at major companies like Rio Tinto Minerals and U.S. Borax Inc., overseeing global operations, mining, processing, and refining facilities. This appointment is a key development for Newmont's operational leadership. Mr. Robison's compensation package includes a base salary of $700,000, a target cash bonus of 125%, and significant long-term equity incentives. He will also receive a $500,000 sign-on bonus, with provisions for repayment if he voluntarily leaves within 24 months. The report also details his prior consulting work for Newmont, which will conclude before his official start date.
Key Highlights
- 1Appointment of Chris Robison as Executive Vice President, Operations and Projects, effective May 1, 2013.
- 2Mr. Robison brings over 32 years of experience in the mining industry, including senior operational roles at Rio Tinto Minerals and U.S. Borax Inc.
- 3His compensation package includes a $700,000 base salary, a target cash bonus of 125% of base salary, and long-term equity incentives.
- 4A $500,000 sign-on bonus will be provided, subject to a pro-rata repayment clause if Mr. Robison voluntarily resigns within 24 months.
- 5Mr. Robison's prior consulting services to Newmont for labor negotiations, safety, and efficiencies will terminate before his executive appointment.
- 6He will participate in the Company's strategic stock unit program but not the performance leveraged stock unit program.
- 7Mr. Robison is eligible for the Executive Change of Control Plan but not the Severance Plan.