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Investing.com -- Newmont Corporation (NYSE:NEM) stock dropped 8.3% following the unexpected resignation of Chief Financial Officer Karyn F. Ovelmen, who stepped down from her role on July 11, 2025.
The gold mining giant announced that Ovelmen’s departure was not related to any disagreement regarding the company’s operations, financial statements, accounting policies, practices, or disclosures. The company has begun searching for a permanent replacement.
Peter Wexler, 57, who joined Newmont in March 2024 as Executive Vice President and Chief Legal Officer, will serve as interim CFO while maintaining his legal responsibilities. Wexler brings over three decades of international corporate experience, including 15 years as Chief Legal Officer at Schneider Electric (EPA:SCHN).
In his interim role, Wexler will be supported by Newmont’s finance team, including Brian Tabolt, Senior Vice President, Global Finance and Chief Accounting Officer, and Neil Backhouse, Senior Vice President of Investor Relations.
According to the separation agreement filed with the SEC, Ovelmen will receive six months of her current base salary and medical insurance coverage following her departure. She will not receive any additional separation or severance benefits under the company’s disclosed plans.
The company has not yet determined if Wexler will receive supplemental compensation for taking on the additional CFO responsibilities. Any future compensation decisions will be disclosed in an amendment to the Current Report on Form 8-K.
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