Lindsay will be replaced by CFO Jonathan Price
Teck Resources Ltd. chief executive Don Lindsay announced his retirement after 17 years at the helm of one of Canada’s leading mining companies. During Lindsay’s tenure, Teck delivered “record financial and operational results and returned significant capital to shareholders,” the Vancouver-based company said in a press release on July 26.
Under Lindsay, who was appointed CEO in 2005, the diversified miner also built a strong copper pipeline and marked the start of its ambition to rebalance its portfolio towards metals as opposed to coal and oilsands operations.
“A lot of planning and preparation have all led up to this point,” Lindsay said on the company’s quarterly conference call with analysts on July 27.
“We are reshaping our portfolio to have a bigger focus on copper and less on carbon and with that shift it is important…that the strategy is owned and led by the CEO who will be around and I clearly wasn’t going to be the one,” added Lindsay, who will be turning 64 this year.
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