Gold miner ECR Minerals PLC (LON:ECR) has selected its finance director Craig Brown to replace Stephen Clayson as the company’s new chief executive with immediate effect.
Clayson announced his resignation at the beginning of last month, although only officially vacated his position yesterday.
Brown, who was appointed to the board in May this year, has more than 21 years’ experience in senior management and finance roles within the exploration and mining industry.
"I believe [Craig] has the drive and ability to take ECR into the next stage of its development and I am confident that he will make an excellent CEO,” said chairman Bill Howell.
“I am pleased to be appointed to the position of CEO and am fully committed to turning ECR around,” Brown said.
ECR owns the Avoca and Bailieston gold project in Australia through its subsidiary Mercator Gold Australia and Brown thinks both have "significant potential".
Last week, the company announced it had given notice to terminate its earn-in option at the Danglay gold project in the Philippines. As a result, the company will no longer be the operator of the project.
Shares in ECR jumped more than 10% on the news of the appointment.