01—Abstract
Summary
Summary of the 8-K filed July 14, 2025. Cited figures are marked; the original filing is the authoritative source.
Newmont Corporation (NEM) has announced a significant change in its financial leadership.
Effective July 11, 2025, Executive Vice President and Chief Financial Officer, Ms. Karyn F. Ovelmen, has resigned from her position. The company has stated that Ms. Ovelmen's departure was amicable and not due to any disagreements regarding the company's operations, financial statements, or accounting practices.
Newmont has initiated a search for a permanent CFO. In the interim, Mr. Peter Wexler, who joined Newmont in March 2024 as Executive Vice President and Chief Legal Officer, will assume the role of interim Chief Financial Officer. Mr. Wexler brings extensive executive experience, including over three decades of international corporate leadership and 15 years as Chief Legal Officer at Schneider Electric.
He will be supported by Newmont's established global finance team, including the Chief Accounting Officer and Head of Investor Relations. Ms. Ovelmen will receive six months of base salary and medical coverage as part of her separation agreement.
02—Key points
Key Highlights
- CFO Karyn F. Ovelmen has resigned, effective July 11, 2025.
- Ms. Ovelmen's resignation was not due to any disagreements with the Company.
- Peter Wexler appointed as interim Chief Financial Officer.
- Mr. Wexler currently serves as Executive Vice President and Chief Legal Officer.
- Mr. Wexler has extensive international corporate and legal leadership experience.
- Ms. Ovelmen will receive six months of base salary and medical insurance coverage.
- A search for a permanent CFO has commenced.
03—Questions
Frequently Asked Questions
Why did the Chief Financial Officer resign?
The company stated that Ms. Karyn F. Ovelmen's resignation was not due to any disagreement with Newmont Corporation on matters relating to the company's operations, financial statements, accounting policies, practices, or disclosures.
Who is the new interim Chief Financial Officer?
Mr. Peter Wexler has been appointed as the interim Chief Financial Officer. He currently holds the position of Executive Vice President and Chief Legal Officer at Newmont and joined the company in March 2024.
What will Ms. Ovelmen receive as part of her separation agreement?
Pursuant to her separation agreement, Ms. Ovelmen will receive six months of her current base salary and six months of medical insurance coverage following her departure from the Company. She will not receive any other separation or severance benefits under the Company’s disclosed plans.
Will Mr. Wexler receive additional compensation for serving as interim CFO?
Mr. Wexler will continue to participate in the Company’s standard compensation programs. Supplemental compensation for his service as interim CFO has not yet been determined. If the Leadership Development and Compensation Committee decides to award additional compensation, it will be disclosed in an amendment to this report.
04—Continue