Millennium Minerals has announced that Managing Director and Chief Executive Officer, Brian Rear wishes to step down from his executive role following a highly successful 6 year period leading the Company. Mr Rear has indicated his decision to step down at this juncture is to allow him to take on another, as yet unidentified full time role, in developing a new resources project.
The Board has invited Mr Rear to remain on the Board as a Non‐Executive Director to ensure the Company continues to have the benefit of his significant experience and operational skills and to ensure a seamless transition of the senior leadership of the Company.
The Company will engage an executive search firm to identify suitably qualified candidates to take over the role of CEO. Mr Rear will remain in the CEO and Managing Director role until a leadership transition can take place.
Mr Richard Procter, Chairman of Millennium, said: “Having successfully established Millennium as a stable, profitable producing gold company, Brian has achieved what he was appointed to do. We understand that the time is now right for him to move on to another opportunity and for a CEO with a different skill set to take the Company through the next phase of its growth.
“During Brian’s six year tenure as CEO and Managing Director he has delivered the Nullagine facility on time and on budget; developed an excellent management team and skilled staff; and overseen a significant and highly successful exploration program”.
“The Board completely understands Brian’s desire to seek a new project challenge and is pleased he has agreed to remain on the Board in a non‐executive capacity”.
“The Board is committed to achieving an orderly transition to the CEO role, and we have a robust process in place to seek Brian’s replacement,” Mr Procter said.