Resolute Mining (ASX: RSG) appoints Terry Holahan CEO and MD – The Market Herald

• Resolute Mining (RSG) officially appoints Terry Holahan CEO and Managing Director
• From May 23, Terry Halahan will receive a fixed salary of approximately $ 707,500 per year, as well as a short-term incentive of up to 112.5 percent of his salary
• The news came after April’s board of resolute was shuffled, during which Stuart Gale resigned as MD and CEO
• Terry Halahan temporarily held the role after stepping down as chief operating officer
• Resolute Mining rose 3.28 percent, trading 31.5 cents at market close

Resolute Mining (RSG) has officially appointed a new CEO and Managing Director to its board.

Terry Holahan will take up the role on May 23, agreeing to a fixed reward of £ 400,000 (A $ 707,593) per year. In addition, he will receive a short-term incentive of up to 112.5 percent of salary.

The news came after the April board of Resolute was shuffled, causing Stuart Gale to abruptly resign as MD and CEO. After that, Terry Holahan – who held the role of chief operating officer – temporarily moved to this role.

Stuart Gale was appointed permanent CEO less than 12 months ago after becoming interim CEO in October 2020, when then-CEO John Welborn also announced his unexpected retirement after five years of running the company.

The new CEO has more than 40 years of experience in the mining industry, seven of whom have served as CEOs of two mining companies.

His resume includes the roles of Anglo Platinum Smelting and Refining Business Manager and Senior Vice President Ivanhoe Nickel and Platinum.

“We are fortunate that the company has someone of this level and great experience that Terry has to take on the role of CEO,” said Chairman Martin Botha.

“Terry’s deep technical and operational experience, as well as his extensive experience in Africa, will be of particular value to the company during the current focus on operational improvement and repositioning to increase shareholder returns.”

Resolute Mining rose 3.28 percent, trading at 31.5 cents at the close of the market.