Toronto, Ontario, March 7, 2011 - Kinross Gold
Corporation (TSX: K; NYSE: KGC) today announced the appointment of
Paul H. Barry as Executive Vice-President and Chief Financial
Officer. He is expected to join Kinross effective March 31,
2011. Mr. Barry replaces Thomas M. Boehlert, who will be
leaving the Company by mutual agreement to pursue other
opportunities. Mr. Boehlert will remain with the Company for
an appropriate period to ensure a smooth transition.
"Over the past five years, Thom has played an important role in
the transformation of Kinross into one of the world's fastest
growing senior gold producers," said President and CEO Tye
Burt. "Thom is a first-class professional and the architect
of our outstanding finance organization. He leaves the
company in a solid financial position with an excellent team in
place. We are grateful for Thom's contribution and we wish
him well with his future endeavors," said Mr. Burt.
Paul H. Barry joins Kinross following a distinguished career in
the United States. Since 2009, he has been an independent
consultant in Washington, D.C. From 2007 to 2009, Mr. Barry
was Senior Vice-President and Chief Financial Officer of Pepco
Holdings, Inc. From 2002 to 2007, he held several positions
at Duke Energy Corporation, including most recently Senior
Vice-President and Chief Development Officer. Previously, he
held positions in business development and financial management at
Amoco Corporation and General Electric Company. Mr. Barry
holds a Bachelor of Science degree in finance from Northeastern
University and a Master of Business Administration degree from
Harvard University(full bio attached.)
"I am delighted that Paul will be joining our senior leadership
team at Kinross, where I am confident he will make a valuable
contribution to the next phase of our company's growth and
development," said Mr. Burt. "Paul brings to Kinross a wealth
of experience, strong leadership skills and a dynamic
approach. I am very pleased we have been able to
attract someone of Paul's caliber to the company, where he will
become part of a world-class organization," he added.
About Kinross Gold
Corporation
Kinross is a Canadian-based gold mining company
with mines and projects in Canada, the United States, Brazil,
Chile, Ecuador, Russia, Ghana and Mauritania, employing
approximately 7,000 people worldwide.
Kinross' strategic focus is to maximize net asset
value and cash flow per share through a four-point plan built on:
delivering mine and financial performance; attracting and retaining
the best people in the industry; achieving operating excellence
through the "Kinross Way"; and delivering future value through
profitable growth opportunities.
Kinross maintains listings on the Toronto Stock
Exchange (symbol:K) and the New York Stock Exchange
(symbol:KGC).
Paul H. Barry
Paul Barry has over twenty-five years experience as a senior
executive in financial, strategic, and operational management for
some of the largest industrial and energy companies in the
world. Mr. Barry started his career with General Electric
Company and is an alumnus of GE's highly regarded Financial
Management Program and Corporate Audit Staff. He received a
Bachelor of Science degree, magna cum laude, in finance from
Northeastern University and an MBA from Harvard Business School.
While at GE, Mr. Barry served on the Board of Directors of
Trans-Elect, Inc., the first independent U.S. electric transmission
company.
Mr. Barry also gained experience at Duke Energy Corporation as
Group Executive and President, Duke Energy Americas, the company's
major wholesale energy operations and commercial business. While at
Duke Energy, he also served as Senior Vice President, Chief
Development Officer, and Vice President, Mergers &
Acquisitions, and was responsible for over $50 billion of strategic
transactions.
After Duke Energy, Mr. Barry was Chief Financial Officer, Senior
Vice President, for Pepco Holdings, Inc., an energy delivery
company headquartered in Washington, D.C. and operating in the
Mid-Atlantic.
Prior to rejoining GE in 1998, Mr. Barry served in financial
executive roles with Westinghouse Electric Corporation and Amoco
Corporation.
Most recently, Mr. Barry was an independent consultant, and,
among other projects, advised the First Deputy Mayor for the City
of Los Angeles on critical strategic and financial initiatives.