TORONTO, March 27 /CNW/ - Kinross Gold Corporation (TSX-K; NYSE-KGC)
("Kinross" or the "Company") is pleased to announce the appointment of Thomas
M. Boehlert as Executive Vice President and Chief Financial Officer of
Kinross.
Mr. Boehlert has more than 20 years experience in finance and banking.
Most recently, he was Executive Vice President and Chief Financial Officer of
Texas Genco of Houston, an independent electric power company. Prior to that,
he was Executive Vice President and Chief Financial Officer of Direct Energy
of Toronto, a North American energy services company. Mr. Boehlert was also
Senior Vice President and Chief Financial Officer of Sithe Energies of New
York, an international independent electric power company. Mr. Boehlert spent
14 years as a banker at Credit Suisse in New York and London where he was
responsible for covering energy companies and project finance activities.
Mr. Boehlert holds a B.A. in Accounting from Indiana University, an
M.B.A., Finance from New York University and is a certified public accountant.
"Thomas Boehlert is an outstanding financial executive with an excellent
track record," said Tye Burt, President and Chief Executive Officer of Kinross
Gold Corporation. "Attracting and retaining the industry's best people is part
of our four-point strategic plan for growth and Thomas is a great addition to
our team."
This appointment follows the April 7, 2006 retirement of Lars-Eric
Johansson, Kinross' Executive Vice President and Chief Financial Officer since
June 2004. During Mr. Johansson's time with Kinross, he was instrumental in
leading Kinross through the accounting review process, purchase price
reallocation and impairment testing model development, and the resultant
restatements. He will be providing consultancy services to Kinross for several
months.
"Lars-Eric has played a key role as Kinross has grown to be the third
largest primary gold producer in North America and most recently in
establishing new accounting methodologies and refocusing the company for the
future," added Burt. "The senior management and the Board of Directors wish to
thank Lars-Eric Johansson for his valuable contribution to the Company and
wish him well in his retirement."
About Kinross Gold Corporation
Kinross, a world-class gold company based in Canada, has since 1993
become the third largest primary gold producer in North America and the
seventh largest in the world. With nine mines in stable countries including
Canada, the United States, Brazil and Chile, Kinross employs more than 4,000
people worldwide.
Kinross' strong balance sheet and no-gold hedging policy allow us to take
full advantage of increasing cash flow, revenues and profit margins per ounce
of gold. Kinross is focused on a strategic objective to maximize net asset
value and cash flow per share through a four-point plan built on growth from
core operations; expanding capacity for the future; attracting and retaining
the best people in the industry; and driving new opportunities through
exploration and acquisition.
Kinross' financial results for the fourth quarter and full year of 2005
will be available at www.kinross.com upon filing.
Kinross maintains listings on the New York Stock Exchange (symbol:KGC)
and on the Toronto Stock Exchange (symbol:K).
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