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Resolute Mining appoints experienced mining executive Stuart Gale as chief financial officer

New CFO Stuart Gale will replace Lee-Anne de Bruin who has been at the company since February 2017.

Resolute Mining Limited - Resolute Mining appoints highly experienced mining executive Stuart Gale to chief financial officer
Stuart Gale is a Fellow of the Institute of Chartered Accountants in Australia

Resolute Mining Limited (ASX:RSG) has appointed highly experienced mining executive Stuart Gale as chief financial officer and he will start in the role on January 20, 2020.

Gale was most recently group manager Corporate Finance for Fortescue Metals Group Limited (ASX:FMG).

Since joining FMG in 2010, Gale has been responsible for FMG’s funding, risk and treasury functions as well as statutory, management and project accounting, budgeting, forecasting, accounts payable and investor relations programs.

FMG refinancing work

During FMG’s expansion period, he ensured robust systems and processes were developed and implemented in addition to coordinating external and internal finance functions.

More recently, developing FMG’s refinancing strategies to result in a low-cost, flexible, long-dated debt portfolio that supports the company’s ongoing growth has been part of Gale’s role.

He has strong global relationships with banks, shareholders, debt holders and investors that will be beneficial to Resolute.

"Capabilities are a perfect match"

Managing director and CEO John Welborn said: “Stuart Gale is an experienced CFO who joins Resolute with exceptional experience in successful financial leadership and positive transformation in the mining industry.

"He has managed teams within one of the world’s leading mining companies and brings proven financial and commercial experience to complement our senior executive team.

“Stuart’s skills and his strong relationships with debt and equity capital markets have proven immensely valuable in his roles at FMG as has his work across complex cost and other efficiency performance programmes.

“These capabilities are a perfect match for Resolute’s ambitions to be an innovative, multi-mine, low-cost African-focused gold miner.”

Previous positions

Prior to his career at FMG, Gale held senior executive positions at Wesfarmers Ltd (ASX:WES) including chief financial officer of Wesfarmers Energy Limited and general manager Group Accounting.

He is a Fellow of the Institute of Chartered Accountants in Australia and a Fellow of Leadership Western Australia.

Gale will replace Lee-Anne de Bruin as Resolute’s CFO

De Bruin joined Resolute in February 2017 and has been responsible for the company’s finance, information technology and human resources functions.

RSG said, "The Board thanks Ms de Bruin for her professional and dedicated contribution over the last three years and wishes her well in her future endeavours."

Quick facts: Resolute Mining Limited

Price: 1.17 AUD

Market: ASX
Market Cap: $1.52 billion

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