Canada-based Centerra Gold has chosen Michael S. Parrett to succeed Stephen A. Lang as independent chair of the board of directors, starting on 1 October.
Parrett has 35 years of experience in the mining industry, including roles as chief executive at Billiton Base Metals, president and CFO at Rio Algom, and CFO, treasurer and controller at Falconbridge. He also has experience as a corpoprate director, including chair of the board of Gabriel Resources. Parrett joined Centerra in 2014.
"The board is pleased to see Mike assume this board leadership role and are excited to work with him to continue Centerra's success for the benefit of its shareholders and other stakeholders," said Sheryl Pressler, chair of Centerra's nominating and corporate governance committee.
Lang, who held the chair since 2012, will remain a board member.
Centerra Gold operates the Kumtor mine in Kyrgyzstan, which it has consistently hung onto despite repeated offers from Chaarat Gold, which it rejected. The company is also building a new gold mine at Oksut in Turkey.
Centerra (TSE: CG) shares were trading at 11.52c Canadian on Wednesday. The company's share price has doubled since the start of the year, when its shares were worth 5.9c. The company's market capitalisation is CAD$3.38 billion.
