Resolute Mining shares dive on abrupt exit of CEO Terry Holohan
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More news: Resolute Mining shares plunged on the ASX after the gold miner announced that its chief executive and managing director Terry Holohan will leave the company with immediate effect.
Resolute shares were down 7.2% to 38.5 cents by 1:30pm AEDT, having more than halved in value since Holohan and two other company executives were temporarily detained in Mali by government officials in November.
Resolute Mining CEO Terry Holohan to depart after Mali detention
The news: Resolute Mining chief executive and managing director Terry Holohan will leave the company with immediate effect, with current acting CEO Chris Eger named as his permanent replacement.
Holohan has been on a leave of absence since December, after he and two other company executives were temporarily detained in Mali by government officials.
The context: Resolute said it is currently discussing the terms of a proposed settlement with Holohan, following his termination of employment. Holohan has led the gold miner as CEO since May 2022, having previous served as chief operating officer.
Eger, the company's chief financial officer since February 2023, has been serving as acting CEO since early December. He previously held senior leadership positions at Chaarat Gold, Nyrstar, Trafigura, Bank of America Merrill Lynch and BMO Capital Markets.
Current acting CFO Dave Jackson will replace Eger in the permanent role. He has been Resolute's group financial controller since April 2023.
The source: ASX announcement
