Northern Star Resources Limited (ASX: NST) managing director, Stuart Tonkin has advised the board of his intention to step down during the first quarter of FY27.
Mr Tonkin will remain as managing director until that time, which will see the conclusion of the current strategic plan and the commissioning of the KCGM Fimiston Mill Expansion. His tenure marks a highly successful 13-year term at Northern Star first as chief operating officer and then CEO and managing director.
Under Mr Tonkin’s leadership, Northern Star has grown from a small-cap Western Australian-focused miner into Australia’s largest ASX-listed gold producer with three production centres and more than 10,000 staff and contractors across Western Australia and Alaska, with a leading safety record.
Mr Tonkin’s long list of achievements includes the significant growth of the company through acquisition, integration and operation of Plutonic, Kanowna Belle, Kundana, Jundee, South Kalgoorlie, Pogo in Alaska, Kalgoorlie Consolidated Gold Mines, the merger with Saracen Minerals and the takeover of De Grey Mining to add a significant development project, Hemi, to the group.
The board has commenced a formal process to facilitate an orderly transition to a new managing director. A leading global search firm will shortly be appointed and, with the help of that firm, the board will consider internal and external candidates.
Commenting on his decision, Mr Tonkin said:
“After 13 years leading Northern Star through significant growth, I’m proud to leave the company in an exceptional position. The team, the assets and the outstanding growth outlook are unique and after many years of rewarding challenges, I have decided to step down.
“I am very proud of what we have achieved at Northern Star and I want to especially thank my executive team and all our staff and contractors for the role they’ve played in building such a great company over the years. There is an exciting future ahead.”
Northern Star’s chairman Michael Chaney said:
“On behalf of the board and our shareholders, I want to thank Stu for his phenomenal efforts over the last 13 years. He can be rightly proud of his achievements, and he will leave a legacy in the form of assets and growth opportunities that will deliver benefits for all stakeholders for decades to come.
“Along with my fellow directors, I look forward to working with Stu to achieve a smooth transition to a new leader in the coming months.”
