01—Abstract
Summary
Summary of the 8-K filed May 2, 2025. Cited figures are marked; the original filing is the authoritative source.
On May 2, 2025, Newmont Corporation (NYSE: NEM) disclosed that Natascha Viljoen has been promoted to President and Chief Operating Officer, effective May 1, 2025, continuing to report to CEO Tom Palmer.
She will oversee global operations, projects and studies, and health, safety, security and environment. Her compensation package includes a $1,000,000a base salary, a short-term incentive target of 115% of base, PSUs at a $2.57 million target, RSUs at a $1.28 million target, and a one-time $635,000 RSU grant recognizing the expanded role. The promotion follows her tenure as COO since October 2023 and is framed by management as a step to improve costs and productivity now that the Newcrest portfolio rationalization is complete.
The filing also covers the approval of the 2025 Section 16 Officer Short-Term Incentive Plan by the Leadership Development and Compensation Committee on April 29, 2025. Its terms are substantially similar to the 2024 plan, but it adds a "Focusing on Our Culture" metric alongside financial and sustainability measures. Non-employee directors continue to receive $180,000b annually in common stock or deferred stock units.
At the April 30, 2025 Annual Meeting, all director nominees were elected, though several received notable withheld votes, most prominently Gregory Boyce (12.31%c withheld) and Bruce Brook (5.00%). The advisory say-on-pay proposal passed with 87.24% support, a meaningful decline in approval that investors may watch closely. Ernst & Young was ratified as auditor with 97.85% of votes cast.
02—Key points
Key Highlights
- Natascha Viljoen promoted to President and COO effective May 1, 2025, reporting directly to CEO Tom Palmer and overseeing global operations, projects and studies, and HSSE.
- Viljoen's compensation: $1.0M base salary, 115% STI target, $2.57M PSU target, $1.28M RSU target, plus a one-time $635,000 RSU grant.
- New 2025 Section 16 Officer STIP adds a 'Focusing on Our Culture' metric alongside financial and sustainability measures.
- Gregory Boyce received 12.31% withheld votes; Bruce Brook received 5.00% withheld, signaling some shareholder dissatisfaction.
- Say-on-pay advisory resolution passed with 87.24% of votes cast, down from typically higher levels, indicating moderate shareholder support.
- Ernst & Young LLP ratified as independent auditor for 2025 with 97.85% approval.
- Management ties the leadership change to completion of portfolio rationalization following the Newcrest acquisition and a focus on lowering costs and improving productivity.
03—Questions
Frequently Asked Questions
Who is Natascha Viljoen and what is her new role?
Viljoen, age 55, previously served as Newmont's Executive Vice President and COO since October 2023. Before joining Newmont, she was CEO of Anglo American's platinum business in South Africa. She is now President and COO, leading global operations, projects and studies, and health, safety, security and environment, while continuing to report to CEO Tom Palmer.
How is Viljoen being compensated in her new role?
Her package includes a $1,000,000 base salary, a short-term incentive with a 115% of base target under the Section 16 STIP, PSUs with a $2.57 million target, RSUs with a $1.28 million target, and a one-time supplemental RSU grant of $635,000 to recognize her expanded scope.
Did shareholders support the executive compensation proposal?
Yes, but with moderate support. The advisory say-on-pay resolution passed with 87.24% of votes cast in favor, versus 12.46% against and 0.30% abstaining. Investors may view this as a signal to monitor pay practices.
Were any directors met with significant opposition at the annual meeting?
All directors were elected, but Gregory Boyce received 12.31% withheld votes and Bruce Brook received 5.00%. Other directors such as Julio Quintana (2.74%) and Jane Nelson (2.07%) also drew smaller withheld shares.
What changed in the 2025 short-term incentive plan?
The 2025 STIP is substantially similar to the 2024 plan, but its performance metrics differ and include a new 'Focusing on Our Culture' measure. The metrics cover financial and sustainability goals, and the plan is designed to keep total cash compensation competitive and align executives with shareholders.
04—Continue