What Led to Newmont's CFO Resignation?
Newmont Corporation announced on July 15, 2025, that Chief Financial Officer Karyn Ovelmen has stepped down from her position after approximately two years in the role. According to the company's official statement, Ovelmen's departure was "not related to any disagreements regarding operations, financial statements, or accounting policies," suggesting an amicable separation.
The timing of this transition comes amid broader industry volatility, with CFO turnover rates in the mining sector reaching 18% in 2024, significantly higher than the 12% cross-industry average according to the 2024 PwC Global CEO Survey. This trend reflects the unique pressures facing financial leaders in mining operations, particularly as commodity price fluctuations and operational challenges intensify.
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