Business
Hochschild Announces Leadership Transition
Hochschild Announces Leadership Transition.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n\n \n \n \n \n \n_____________________________________________________________________________________\n30 May 2023\n \n \nHochschild Announces Leadership Transition Process\n \n \nHochschild Mining PLC (the \"Company\" or \"Hochschild\") (LSE: HOC) (OTCQX: HCHDF) today announces that Ignacio Bustamante has informed the Board of Directors of his intention to step down as Chief Executive Officer (\"CEO\") on 26 August 2023 to relocate to London and assume a new role at another company.\n \nThe Board has appointed Eduardo Landin, who has served as Chief Operating Officer (\"COO\") for ten years, to succeed Ignacio as CEO and, upon assuming that role, will join the Board as an Executive Director.\n \nIgnacio will continue to serve on the Board, as a Non-Executive Director, representing Hochschild's largest shareholder, Pelham Investment Corporation (controlled by Eduardo Hochschild), pursuant to its nominating rights under the Relationship Agreement with the Company.\n \nIn addition, the Company announces that Rodrigo Nunes, currently Director of Technical Services, will become the Company's COO, with effect from 26 August 2023.\n \nThe Company reiterates the production and cost guidance previously provided in the Q1 2023 Production Report on 10 May 2023 subject to approval of Inmaculada's Modified Environmental Impact Assessment (\"MEIA\") in Q2 2023. The Company is working closely with the relevant authorities and continues to expect a decision by 30th June 2023.\n \nEduardo Hochschild, Chairman, said:\n\"The Board and I want to thank Ignacio for his steadfast leadership during his 13-year tenure as CEO. During this period, we consolidated our Peruvian operations, developed the Inmaculada mine and more recently acquired the Mara Rosa project which will be Hochschild's first operation in Brazil. We have also achieved significant exploration success over the last decade at all our operations in Peru and Argentina. Ignacio's leadership has been exemplary, and we are grateful that he has decided to remain in his position during the final stages of securing the Inmaculada MEIA. We look forward to benefiting from his experience and knowledge of the Company and our strategy as a Non-Executive D...