Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL), the Zimbabwe-focused gold miner has announced its long-serving chief executive Steve Curtis will stand down at the end of June 2022.
Curtis will continue to be a Caledonia director, before transitioning from an executive to a non-executive role by the end of 2022 and acting as a consultant to the company until the culmination of 2023.
Curtis has been in the role since November 2014, with Caledonia’s current chief financial officer, Mark Learmonth, to succeed him as CEO.
Caledonia’s chairman Leigh Wilson praised Curtis’s achievements in the role, adding that overseeing the new Central Shaft at the Blanket Mine was the defining feature of his tenure at the miner.
That will result in gold production doubling to 80,000 ounces by the start of 2022.
“Production has almost doubled and the market capitalisation has increased over four-fold, [while Curtis] has also laid the foundations for the next phase of Caledonia's growth,” said Wilson.