Convention goers are seen at the Goldcorp booth at the PDAC Convention 2016 in Toronto, Sunday March 6/2016.
Goldcorp Inc. has shaken up its senior ranks as the Vancouver miner moves to cut costs, streamline management and improve investor returns.
The company said in a press release that its new, leaner structure would allow mine general managers to act as business owners and assume responsibility for growing the net asset values of their businesses.
"We believe this strategic renewal offers the best potential returns with the lowest risk profile," chief executive officer David Garofalo said in the release.
Mr. Garofalo, the former chief of HudBay Minerals, took over the top job at Goldcorp on Feb. 29.
A few days before, the gold miner declared a $4.2-billion (U.S.) loss for 2015, largely as a result of newly conservative projections for the long-term price of the precious metal.
As part of the changes announced Wednesday, Russell Ball, executive vice-president of corporate development, will become chief financial officer.
Richard Orazietti, who had been vice-president of internal audit, will move up to senior vice-president and controller, while David Stephens, who had been director of corporate development, will become vice-president and treasurer.
In addition, Rohan Athaide, director of internal audit, will assume the role of vice-president, internal audit.
Lindsay Hall, who had been executive vice-president and chief financial officer, has left to pursue other interests.
Charlie Ronkos, senior vice-president exploration, is also leaving and the company's exploration office in Reno, Nev., will be closed.
Ian McGugan