New Hope Group (ASX:NHC) appoints new CEO

Company News

by Katrina Bullock

Coal miner, New Hope Group has appointed Mr Reinhold Schmidt as Chief Executive Officer of the company effective from 1 September 2020.
Reinhold has over 20 years’ experience in the mining industry and is the former CEO of Yancoal Australia.

He will have his work cut out from him as the company, which owns an 80 per cent interest in the Bengalla Mine continues to navigate a difficult period characterised by low coal prices and a controversial approvals process for New Acland Stage 3.

However, his $1.5 million per annum remuneration package should help to soften the impact.

His handover, from the current CEO and Managing Director Shane Stephan will begin on the 3rd of August.

Shares in New Hope Group (ASX:NHC) are trading 2.5 per cent lower at $1.36.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.