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Paul Conibear, Lundin Mining Corp.’s long-serving chief executive officer, has decided to retire, and will be replaced by current chief financial officer Marie Inkster at the end of the year.
Mr. Conibear, 61, has been Lundin’s CEO since 2011. He will continue to sit on a number of boards but has “no intention of ever working full time again,” and intends to pursue interests outside of mining, he said in an interview on Wednesday.
Ms. Inkster will be one of the first female CEOs of a major mining company in Canada. The changing of the guard at one of Canada’s biggest base-metals companies comes as Lundin is getting ready to ramp up its attempts to buy Nevsun Resources Ltd.
Mr. Conibear said that in light of Nevsun’s refusal to accept Lundin’s informal acquisition proposals, the miner intends to go directly to Nevsun’s shareholders and table a formal takeover offer “by Friday, if not before.”
Last week, Toronto-based Lundin said it was willing to pay $1.4-billion in cash for Nevsun, modifying an earlier offer that saw it offering cash and stock, and teaming up with a junior partner on the deal. Nevsun argued Lundin’s latest offer still undervalued the company.
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