In addition, Mr. Threlkeld has resigned his seat on the Board of Directors, and Mr. Adams has been appointed to the Board, effective September 12, 2018.
"We are very pleased that Renaud will be joining our team as President and CEO," said Ian Pearce, Chair of the Board, New Gold. "His extensive experience in the gold sector and operational background will be of tremendous benefit, and his proven track record of delivering on production and costs will be invaluable as we advance the Company's corporate strategy."
Adams has 25 years of experience in the mining industry. Previously, he was the President and CEO of Richmont Mines Inc. Adams was also previously COO at Primero Mining Corporation, and prior to that was with IAMGOLD Corporation as the GM of Rosebel mine in Suriname and then the Senior VP, Americas Operations.
"I am excited to be working with the team at New Gold," said Adams. "l look forward to the significant opportunities we have as we continue to improve operational performance at Rainy River, increase cash flow at all operations, and create value for our shareholders through a disciplined approach to both productivity and value creation from our portfolio of long-life assets."
Adams holds a Bachelor of Engineering degree in Mining and Mineral Processing from Laval University in Quebec, Canada.
"On behalf of New Gold and the Board of Directors, I would like to thank Ray for stepping in over the last few months. His dedication and significant contributions over the past twelve years with New Gold and its predecessor companies have been instrumental in ensuring the success of the Company. We appreciate Ray's willingness to support Renaud during the transition, and wish Ray great success in his future endeavours," said Pearce.