Chief operating officer for the Americas, Craig Jones, will also assume responsibility for all of Newcrest operations on an interim basis, Newcrest said.
Biswas’ retirement follows open investor discontent over Newcrest’s remuneration report, particularly the CEO’s pay, at the company’s annual meeting last month.
Two rival proxy groups agreed at the meeting that the bonuses paid to Biswas were too generous in relation to the company’s financial performance.
Today’s announcement also comes less than a year after the executive issued a mea culpa published by The Australian Financial Review. In the article, Biswas apologized to those who felt bullied during his tenure and vowed to change his management style.
Newcrest chairman Peter Tomsett said Biswas’s apology was genuine and the right thing to do.
“I hope that moments like that force many people, no matter where they work, to hold up a mirror to themselves, and…
