Kinross announces appointment of new
Chief Financial Officer
Kinross
Gold Corporation (TSX: K; NYSE: KGC) today announced the appointment of Paul H.
Barry as Executive Vice-President and Chief Financial Officer. He is expected
to join Kinross effective March 31, 2011. Mr. Barry replaces Thomas M.
Boehlert, who will be leaving the Company by mutual agreement to pursue other
opportunities. Mr. Boehlert will remain with the Company for an
appropriate period to ensure a smooth transition.
"Over
the past five years, Thom has played an important role in the transformation of
Kinross into one of the world's fastest growing senior gold producers," said
President and CEO Tye Burt. "Thom is a first-class professional and
the architect of our outstanding finance organization. He leaves the
company in a solid financial position with an excellent team in place. We
are grateful for Thom's contribution and we wish him well with his future
endeavors," said Mr. Burt.
Paul H.
Barry joins Kinross following a distinguished career in the United
States. Since 2009, he has been an independent consultant in Washington,
D.C. From 2007 to 2009, Mr. Barry was Senior Vice-President and Chief
Financial Officer of Pepco Holdings, Inc. From 2002 to 2007, he held
several positions at Duke Energy Corporation, including most recently Senior
Vice-President and Chief Development Officer. Previously, he held positions
in business development and financial management at Amoco Corporation and
General Electric Company. Mr. Barry holds a Bachelor of Science degree in
finance from Northeastern University and a Master of Business Administration
degree from Harvard University (full bio attached.)
"I
am delighted that Paul will be joining our senior leadership team at Kinross,
where I am confident he will make a valuable contribution to the next phase of
our company's growth and development," said Mr. Burt. "Paul
brings to Kinross a wealth of experience, strong leadership skills and a
dynamic approach. I am very pleased we have been able to attract
someone of Paul's caliber to the company, where he will become part of a
world-class organization," he added.
About Kinross Gold Corporation
Kinross
is a Canadian-based gold mining company with mines and projects in Canada, the
United States, Brazil, Chile, Ecuador, Russia, Ghana and Mauritania, employing
approximately 7,000 people worldwide.
Kinross'
strategic focus is to maximize net asset value and cash flow per share through
a four-point plan built on: delivering mine and financial performance;
attracting and retaining the best people in the industry; achieving operating
excellence through the "Kinross Way"; and delivering future value
through profitable growth opportunities.
Kinross
maintains listings on the Toronto Stock Exchange (symbol:K) and the New York
Stock Exchange (symbol:KGC).
Paul H. Barry
Paul
Barry has over twenty-five years experience as a senior executive in financial,
strategic, and operational management for some of the largest industrial and
energy companies in the world. Mr. Barry started his career with General
Electric Company and is an alumnus of GE's highly regarded Financial Management
Program and Corporate Audit Staff. He received a Bachelor of Science
degree, magna cum laude, in finance from Northeastern University and an MBA
from Harvard Business School. While at GE, Mr. Barry served on the Board of
Directors of Trans-Elect, Inc., the first independent U.S. electric
transmission company.
Mr.
Barry also gained experience at Duke Energy Corporation as Group Executive and
President, Duke Energy Americas, the company's major wholesale energy
operations and commercial business. While at Duke Energy, he also served as
Senior Vice President, Chief Development Officer, and Vice President, Mergers
& Acquisitions, and was responsible for over $50 billion of strategic
transactions.
After
Duke Energy, Mr. Barry was Chief Financial Officer, Senior Vice President, for
Pepco Holdings, Inc., an energy delivery company headquartered in Washington,
D.C. and operating in the Mid-Atlantic.
Prior
to rejoining GE in 1998, Mr. Barry served in financial executive roles with
Westinghouse Electric Corporation and Amoco Corporation.
Most
recently, Mr. Barry was an independent consultant, and, among other projects,
advised the First Deputy Mayor for the City of Los Angeles on critical
strategic and financial initiatives.