Racine Named Yamana CEO; Marrone Now Executive Chairman
(Kitco News)- Yamana Gold Inc. (TSX:YRI; NYSE: AUY) announced changes in itstop leadership Wednesday, with Daniel Racine promoted to president and chief executiveofficer, while company founder Peter Marrone leaves his job as CEO to assume anewly created role of executive chairman.
Racine iscurrently chief operating officer.
 Peter Marrone |  Daniel Racine |
Marrone willserve as a liaison between the board of directors and management. The companysaid he will continue to “drive Yamana’s strategic vision,” focusing oninitiatives to optimize capital deployment, return measures, sustainability ofcash flow, and the evaluation of alternatives to maximize the value of assets,including those considered non-producing. Yamana said Marrone will also serveas a “guide, and mentor” to the new CEO.
“Our board of directorssees this appointment as a natural evolution of his [Racine’s] roles over thelast several years,” Marrone said. “Daniel has shown tremendous leadership andhis cooperative approach has been a key to the company’s recent strongperformance.”
In late July,Yamana reported a profit for the second quarter and said company-wide goldproduction was on track to exceed 2018 guidance.
Racine has beenwith Yamana since 2014. Most recently, he oversaw operations and development-stageprojects.
By Allen SykoraFor Kitco News
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