Newcrest Mining Limited - Newcrest announces independent advisor to review
MELBOURNE, Victoria, June 25, 2013 /CNW/ - The Board of Newcrest Mining
Limited today announced the appointment of former Australian Securities
Exchange Chairman, Dr Maurice Newman AC, to conduct an independent review of
the Company's disclosure and Investor Relations practices.
Newcrest Chairman, Don Mercer, said the Newcrest Board was deeply concerned
about the criticism of the Company, as reported in the media, regarding its
interaction with the market and disclosure prior to the Company's market
release on 7 June 2013.
"Newcrest takes its disclosure obligations extremely seriously. Whilst the
Board is already reviewing events leading up to 7 June 2013, we have decided
to obtain an independent perspective," Mr Mercer said.
"Dr Newman is eminently qualified to conduct the independent review for the
Newcrest Board. His career spans 40 years in stockbroking and investment
banking, both in senior executive and directorial roles. He has been
Chairman of the Australian Securities Exchange (ASX) and the Australian
Broadcasting Corporation, and has been an advisor to Australian State and
Federal Governments. The full resources of the Company will be made
available to Dr Newman so that he is able to conduct a full and thorough
review. We look forward to receiving Dr Newman's findings and any
recommendations he may make."
The independent review will:
-- Review the Company's continuous disclosure and Investor
Relations processes and practices;
-- Review compliance with relevant internal Company policies and
-- Make recommendations in relation to any improvements or changes
that might be required to address any issues identified.
Dr Newman will target providing his report to the Board as soon as practically
"The Board will consider all findings and recommendations of the review. If
steps are required to be taken as a result of the review of these matters, the
Board will ensure that this occurs without delay. I intend to report
publicly on any resulting actions we decide are necessary," Mr Mercer said.
Newcrest Chief Executive Officer, Greg Robinson, said Dr Newman's review would
receive complete cooperation and support from Company management.
Mr Robinson also confirmed that the Company would continue to cooperate fully
with any and all information requests and queries from the responsible
regulators, including the ASX and the Australian Securities & Investments
DR MAURICE L NEWMAN AC, HonDBus Macq, FSIA, FSAA, FAICD
Maurice Newman retired as Chairman of the Australian Broadcasting Corporation
(ABC) in December 2011, and as Chairman of the Australian Securities Exchange
(ASX Limited) in September 2008.
His career spans forty years in stockbroking and investment banking, including
as Managing Director in 1984, and Executive Chairman from 1985 until 1999, of
what is now the Deutsche Bank Group in Australia. He was Chairman of the
Deutsche Bank Asia Pacific Advisory Board and a Director of Deutsche Bank Asia
Pacific from 1999 to 2001. He was also Chairman of Deutsche Asset Management
(Australia) Limited from 1997 until 2000. Dr Newman retired from Deutsche
Bank in July 2001.
Dr Newman served as Chancellor of Macquarie University from 2002 to February
Dr Newman has chaired a number of Asian business alliances including the East
Asia and Oceania Stock Exchange Federation, and the AustraliaTaiwan Business
He has been an adviser to Australian governments, State and Federal, as a
member of the Consultative Committee on Relations with Japan (1984-1987); a
Commissioner of the National Commission of Audit (1996); a member of the
Business Advisory Panel established by the Minister for Multicultural Affairs
(1997 - 2002); Chairman of the National Judging Panel for Innovation in
Local Government (1997-1998); Chairman of the Commonwealth Government's
National Year 2000 Steering Committee (1997-2000) and the Business Mature Age
Workforce Advisory Group (2000-2001); Co-Chair of the SingaporeAustralia
Business Alliance Forum (1999 - 2002); Chairman of the Federal Treasurer's
Financial Sector Advisory Council (1998 - 2007); Member of the New South
Wales Premier's Major Events Board (2002 - 2004); Chairman of the Sydney
Convention & Visitors Bureau (2001 - 2007); and Chairman of Tourism NSW (2002
Dr Newman was also Chairman of the Sydney Legacy Citizen's Committee (1998 -
2004); and Civil Patron, Royal Australian Naval Reserves, Professional Studies
Program (2005 - 2009).
In 1997, he was Australia's Private Sector Representative to the First
Commonwealth Heads of Government Meeting Business Forum held in London; and in
1999 led a delegation of senior Australian executives to New York promoting
Australia, the Dynamic Success Story of the Asia Pacific - A Centre for Global
Dr Newman is currently Chairman of Melon Pastoral Pty Ltd; Macquarie
University Foundation; Taronga Foundation; The Bradman Foundation; and The
Australian Fathers' Day Council;Director, Queensland Investment
Corporation;Advisor to the MMC Group of Companies; Trustee Sydney Cricket &
Sports Ground Trust; and Patron of CEDA.
He was appointed to the MARQ Services Advisory Board, in August 2012, and
Honorary Professor in Public Diplomacy at the Soft Power Advocacy & Research
Centre, Macquarie University in September 2012.
From September 2013, Dr Newman has been appointed Chairman-elect of the
proposed Prime Minister Abbott's Business Advisory Council
This information is available on our website at www.newcrest.com.au and at
Investor Enquiries - North America / Europe Steve Warner T: + 1 212 351
5064 E: firstname.lastname@example.org
Investor Enquiries - Australia / Asia Spencer Cole T: +61 3 9522 5316 E:
Media Enquiries Kerrina Watson T: +61 3 9522 5593 E:
SOURCE: Newcrest Mining Limited
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CO: Newcrest Mining Limited
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-0- Jun/25/2013 04:06 GMT
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