Newmont’s Tom Palmer retires

Newmont (ASX: NEM) chief executive Tom Palmer will step down from his role as chief executive on December 31, 2025.

Natascha Viljoen, president and chief operating officer, will succeed Mr Palmer as president and chief executive and will also join the board of directors on January 1, 2026. Mr Palmer will serve as a strategic advisor until his retirement on March 31, 2026, to support a seamless leadership transition.

Mr Palmer comments on his resignation.

“After 12 years with Newmont and almost 40 years in the mining industry, it is time for me to retire and hand over to [Ms Viljoen] to lead our company through the next chapter in its storied history,” he said.

“It has been a privilege to serve as chief executive officer of Newmont. I thank our board for its guidance and partnership throughout my time in the role, our executive leadership team and all of our teams across the world for their support in shaping our business into the industry leader it is today.

“I am confident that [Ms Viljoen] and Newmont will seize the many opportunities that lie ahead for our business.”

Newmont board of directors chair Greg Boyce comments on Mr Palmer’s resignation.

“On behalf of the board of directors, I thank [Mr Palmer] for his dedication to the growth and advancement of this business,” he said.

“His knowledge of our operations, commitment to the development of our future leaders and passion for the industry have played a key role in shaping what is one of the strongest portfolios in the industry today.

“We are delighted to welcome [Ms Viljoen] as our next chief executive officer. Over the last two years as our chief operating officer, [Ms Viljoen] has proven to be an expert operator and inspiring leader. We are fortunate to have [Ms Viljoen] lead Newmont with a clear focus on unlocking value across our world-class portfolio.”

Ms Viljoen comments on her succession.

“I am honoured to serve as the next chief executive officer of Newmont at this pivotal moment,” she said.

“With deep respect for our legacy, I am grounded about the work ahead. We have assembled the industry’s strongest portfolio of long-life gold and copper assets, which we are determined to manage safely and effectively.

“We will combine operational excellence, cost discipline and judicious capital allocation to ensure strong financial performance, systemically unlocking more value for shareholders and stakeholders alike.

“Together with our employees, we will shape a Newmont that is stronger, simpler and more resilient.

“I want to express my gratitude to [Mr Palmer] for his mentorship and support, and to the board for entrusting me with the responsibility to lead Newmont into its next phase of growth.”