Caledonia Mining Corporation Announces CFO Transition as Chester Goodburn Steps Down, Ross Jerrard Appointed

Caledonia Mining announces CFO Chester Goodburn’s resignation, effective March 24, 2025, succeeded by Ross Jerrard.

Quiver AI Summary

Caledonia Mining Corporation Plc announced that its Chief Financial Officer, Chester Goodburn, will resign from his position on March 24, 2025, following the release of the company’s 2024 financial results. He will be succeeded by Ross Jerrard, effective immediately but pending standard checks. Goodburn has been with Caledonia since 2014, including his recent role as CFO since July 2022, and will provide consultancy support for a transitional period. Jerrard, who previously served as CFO of Centamin plc, brings significant financial leadership experience to Caledonia. CEO Mark Learmonth expressed gratitude for Goodburn’s contributions and welcomed Jerrard, highlighting his expertise as valuable for the company’s growth strategy in the gold sector focused on Zimbabwe.

Potential Positives

• Appointment of Ross Jerrard as CFO, who has significant experience, including leadership of financial operations at Centamin plc during its acquisition by AngloGold Ashanti for $2.5 billion.
• Chester Goodburn will assist in the transition as a consultant, ensuring stability and continuity during the leadership change.
• Mark Learmonth, CEO, expresses confidence in the new CFO's ability to advance Caledonia's strategy to grow as a mid-tier gold producer in Zimbabwe.

Potential Negatives

• The resignation of CFO Chester Goodburn shortly before the financial results release could signal instability or internal challenges within the leadership team.
• Replacing the CFO may lead to uncertainty among investors about the company's financial strategy and management continuity.
• The timing of the change, combined with the immediate assumption of the role by a new CFO, may raise concerns about the transition process and the potential impact on financial operations.

FAQ

Who is the new CFO of Caledonia Mining Corporation?

Ross Jerrard has been appointed as the new Chief Financial Officer of Caledonia Mining Corporation.

When will Chester Goodburn step down as CFO?

Chester Goodburn will step down from his role on March 24, 2025, after the financial results are published.

What experience does Ross Jerrard bring to Caledonia?

Ross Jerrard has extensive experience, previously serving as CFO of Centamin plc and overseeing key financial operations.

What role will Chester Goodburn have after stepping down?

Chester Goodburn will remain with the company as a consultant for a brief period to ensure a smooth transition.

What is Caledonia Mining Corporation's focus moving forward?

Caledonia aims to advance its strategy to become a mid-tier, Zimbabwe-focused gold producer.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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Full Release

ST HELIER, Jersey, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN, AIM and VFEX: CMCL) announces that its Chief Financial Officer (“CFO”), Chester Goodburn, will step down from his role on 24 March 2025, following the publication of Caledonia’s financial results for the year to December 31, 2024. He will be succeeded, with immediate effect, by Ross Jerrard, subject to satisfaction of standard checks.

Mr Goodburn has served as Caledonia’s CFO since July 1, 2022, prior to which he had been Caledonia’s Group Financial Manager and Chief Information Officer. Mr Goodburn will be retained on a consultancy basis for a brief period to ensure an orderly transition.

Mr Jerrard, aged 50, brings extensive experience in financial leadership, having been the CFO of Centamin plc from April 2016 until its acquisition by AngloGold Ashanti Plc in November 2024 for a deal value of $2.5 billion. Centamin was a former FTSE-250 dual-listed (London and Canada) mining company with operations in Egypt and West Africa. Centamin’s flagship asset was the Sukari gold mine in Eqypt which is one of the world’s largest gold mines producing 450,000 ounces of gold per annum. Mr Jerrard is a member of the Institute of Chartered Accountants of Australia and New Zealand and the Institute of Chartered Accountants of Zimbabwe.

Mark Learmonth, Chief Executive Officer, said:

“Chester has made a substantial contribution to Caledonia’s growth since he joined us in 2014, the last two-and-a-half years as CFO. Along with the board and his colleagues, I thank him for his time at Caledonia and we wish him well in his future endeavours.

“I am pleased to welcome Ross to Caledonia. He brings a depth and breadth of experience which will be invaluable to Caledonia as we advance our strategy to become a mid-tier, Zimbabwe-focussed gold producer.”

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