Newmont CFO Ovelmen resigns, Wexler named interim CFO

Newmont Corporation's CFO, Karyn Ovelmen, has resigned, with Peter Wexler appointed as the interim CFO until a permanent replacement is found.

Wexler, who joined Newmont in March 2024 as Executive Vice President and Chief Legal Officer, previously spent 15 years at Schneider Electric.

Ovelmen's resignation, effective immediately, was not related to any operational or financial disagreements within the company.

Following a strong year-to-date performance, Goldman Sachs has downgraded Newmont's stock rating from Buy to Neutral.

Recommendation Rating: Executive Leadership Update at Newmont

In an after-hours announcement on Monday, Newmont Corporation (NYSE: NEM) revealed that Chief Financial Officer Karyn Ovelmen has resigned from her position. To fill the vacancy temporarily, the company has appointed Peter Wexler, the Executive Vice President, as the interim CFO until a permanent replacement is identified.

Peter Wexler joined Newmont in March 2024, assuming the role of Executive Vice President and Chief Legal Officer. Prior to his tenure at Newmont, he dedicated 15 years to Schneider Electric, serving as Chief Legal Officer.

Karyn Ovelmen became Newmont’s CFO in May 2023. Before her tenure at Newmont, she held CFO positions at Flowserve, LyondellBasell, and Petroplus Holdings. According to the company's statement, her departure was not due to any disagreements regarding operations, financial statements, or accounting policies.

In a recent development, Goldman Sachs has downgraded Newmont’s stock rating from Buy to Neutral, following a substantial increase of over 50% in its year-to-date performance.