A seasoned resources chief has accepted a $1 million job offer to work for a precious metal producer.
Craig Jetson (pictured right) is quitting his executive general manager role at Newcrest Mining because competitor St Barbara offered him the top job at the gold producer.
Million dollar deal
Jetson will be paid $1M each year plus superannuation and salary sacrifice benefits to be the next managing director and chief executive. He will also receive 200,000 fully paid ordinary shares in St Barbara for signing up, half of which will be provided in the first six months of joining while the remainder will be transferred to him within the first 18 months on the job. QMEB estimates the bonus could be worth $512,000.
He replaces Bob Vassie, who resigned after working 5.5 years in the job to take up a new non-executive role that leaves him more free time to spend with family.
Jetson has also been executive general manager of Cadia and Lihir. He was chosen for the job because he has successfully led challenging businesses in complex operating environments.
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His first day will be 3 February 2020 while Vassie will do the handover process that is expected to end no later than March 31.
“My time at St Barbara has been the highlight of my career, especially working with such a fantastic team, a team that has delivered some incredible achievements,” Vassie said in a public statement. “This has been a difficult decision for me but it is the right one now for me and my family.”