Mike Houston to take over as Shanta Gold CEO

Shanta said it would make board changes in light of having met its targets, including the commencement of production at the New Luika gold mine, in Tanzania, and to reflect the growth opportunities within the country’s Lupa goldfields and elsewhere in East Africa.

By BUSINESS REPORTER

SHANTA Gold has said its CEO Gareth Taylor would step down on September 30 and be replaced by former Zimplats CEO Mike Houston, as part of the company’s restructuring of its management and board of directorsaccordinfg to a statement issued today.

Shanta said it would make board changes in light of having met its targets, including the commencement of production at the New Luika gold mine, in Tanzania, and to reflect the growth opportunities within the country’s Lupa goldfields and elsewhere in East Africa.

Taylor would remain on the board as an executive director and would take on the role of technical director, while Houston would resume his new position with effect October 1 and would remain a nonexecutive director of Zimplats.Further, Walton Imrie would step down as executive chairperson at the end of September and take up the position of nonexecutive chairperson.

Nicholas Davis, a corporate lawyer at commercial law firm Memery Crystal, would be appointed as nonexecutive director with immediate effect.

"I am delighted to welcome Mike and Nick to the board. Shanta Gold has undergone a significant transformation over the past 18 months and their appointments reflect a step change in the company's development,” Imrie commented.

"I look forward to working with the rest of the board and management team as Shanta Gold enters its next phase of growth," Houston added.

Following the appointments, the board would also comprise Ketan Patel as nonexecutive director and Paul Heber as independent nonexecutive director.