A senior gold mining executive is leaving Agnico-Eagle Mines Ltd. to join rival Barrick Gold Corp.
Ammar Al-Joundi, currently Agnicos chief financial officer, will assume the same role at Barrick starting July 10. The Barrick job opened up after former CFO Jamie Sokalsky was promoted to chief executive earlier this month. Mr. Sokalsky replaced Aaron Regent, who was ousted by the board.
The move is a homecoming of sorts for Mr. Al-Joundi, who spent 11 years at Barrick in a number of different financial roles before becoming CFO at Agnico in September 2010.
Ammar has deep knowledge and experience in the mining industry and a track record of exceptional performance not only at Agnico-Eagle, but also as an integral member of the Barrick team for over a decade, Mr. Sokalsky said in a statement.
I am confident that he will continue Barricks tradition of financial strength and prudent fiscal management, enabling us to deliver maximum value for our shareholders.
Agnico-Eagle CEO Sean Boyd said the company will take the necessary time to find the right replacement for Mr. Al-Joundi.
Mr. Al-Joundi worked at Agnico during a very turbulent time, as the miner dealt with numerous operational problems and had a volatile share price.
