Only three weeks after London-listed African Barrick announced it was replacing its CEO Greg Hawkins, Tanzania’s largest gold company said Chief Operating Officer Marco Zolezzi has also decided to hit the trail. In a short statement, the firm said the recently appointed CEO Brad Gordon would take direct responsibility for operations while a search for a replacement is underway. It added that Zolezzi has left “to pursue other interests.”
The effect on the company’s stocks was immediate. By 9:30 am GMT they had dropped 5.7% to 157 pence in London, extending the firm’s loss to 64% so far this year.