Summary
Newmont Corporation (NEM) has filed an 8-K report to disclose a key executive change in its finance department. The current Vice President, Controller and Chief Accounting Officer, John Kitlen, has announced his retirement, effective in the third quarter of 2021. Mr. Kitlen's departure is voluntary and is not expected to result in any additional compensation or benefits beyond his existing retirement programs. He will work to ensure a smooth transition and provide advisory support until his retirement. Concurrently, Newmont has appointed Brian Tabolt as the new Vice President, Controller and Chief Accounting Officer, effective May 17, 2021. Mr. Tabolt brings extensive experience from his previous role as Vice President, Controller and Chief Accounting Officer at Molson Coors Beverage Company, where he served since 2014. His compensation package includes standard VP-level programs and a sign-on award of restricted stock units valued at $444,000, vesting over three years. This appointment is a significant development for Newmont's financial leadership.
Key Highlights
- 1John Kitlen, VP, Controller and Chief Accounting Officer, announced his retirement for Q3 2021.
- 2Mr. Kitlen's retirement is voluntary and will not result in additional pay or benefits beyond his current programs.
- 3Brian Tabolt appointed as the new VP, Controller and Chief Accounting Officer, effective May 17, 2021.
- 4Mr. Tabolt brings significant experience from his previous role at Molson Coors Beverage Company.
- 5Mr. Tabolt will receive a sign-on award of $444,000 in restricted stock units, vesting over three years.
- 6Mr. Kitlen will continue in an advisory capacity to ensure a smooth transition.
- 7No reportable related-party transactions or familial relationships were disclosed for Mr. Tabolt.