ideal ceo credentials

Mining News
Golden West appoints new CEO
Wednesday, 13 August 2008
Kristie Batten

GOLDEN West Resources has appointed former chief operating officer for Rio Tinto iron ore, David Rose, as its new chief executive officer.

Rose was previously responsible for Rio’s iron ore projects, including the Simandou project in Guinea, and has held senior positions with Western Mining, CRA, Pasminco and has also been managing director of Argyle Diamonds.

Golden West said Rose’s strong background and credentials made him the ideal candidate to lead the company, as it aims to move from explorer to producer.

Rose’s appointment comes ahead of an August 29 shareholder meeting, in which Portman, the company’s second-largest shareholder, will attempt to remove Golden West’s executive chairman Con Markopoulos and executive director Michael Wilson from the board.

If Portman’s plan is successful, it will nominate Portman managing director Richard Mehan and former WesTrac China chief executive Paul Piercy as replacements.

Golden West has argued that Portman is being aggressive and the board reshuffle will give Portman control of the junior without paying the price.

However, Portman has denied it is trying to gain control of the company or that it will launch a takeover bid for Golden West.

Portman managing director Richard Mehan has previously told MiningNews.net that the Golden West board “is very light on in terms of relevant iron ore industry background”.

Golden West non-executive director John Lester said that if Portman wanted more iron ore experience on Golden West’s board, the appointment of David Rose should satisfy anyone.

“We’ve got one of the best qualified guys in the country – but it will be interesting to see what they have to say,” he told MiningNews.net.

Lester said he is not expecting Portman to back down anytime soon.

“Of course, if everything they said was the absolute gospel truth, then one would expect that they would back off, because certainly, you couldn’t have any better iron ore experience than you’d have with David Rose.

“But we’ve always suspected that they have an ulterior motive – which was effectively to get a degree of control of the resource.”

Meanwhile, Rose will take up his position with Golden West in early October.
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