VANCOUVER, Dec. 14, 2015 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS; TSX: PAA) ("Pan American", or the
"Company") today announced that as the last step of a transitional
plan that has been under consideration for over a year, Mr.
Geoff Burns, Chief Executive
Officer, will retire effective December 31,
2015 and Mr. Michael
Steinmann, currently President, will be appointed President
& CEO effective January 1, 2016.
Mr. Steinmann will also join the Board of Directors on January 1, 2016. Mr. Burns will continue serving
on the Company's Board of Directors until the Company's next Annual
General Meeting scheduled for mid-May of 2016.
Commenting on Mr. Burns' retirement, Ross Beaty, Chairman, said, "After a very
productive 12 years with Pan American, Geoff is passing the CEO
baton to Michael Steinmann. Geoff
was instrumental in helping build Pan American into the world's
second largest primary silver producer. He also played a vital role
in assembling and retaining one of the most respected professional
teams in our industry. On behalf of the Board of Directors, I would
like to thank Geoff for all his years of outstanding dedication and
service and wish him the best in his future. We are glad to be able
to continue to tap into his knowledge."
Mr. Michael Steinmann has led the
Company's geology and exploration activities since he joined Pan
American in 2004. While in this role, the Company added over 279
million ounces of new proven and probable silver mineral reserves.
Mr. Steinmann was made Executive Vice President in 2008 and he took
charge of Pan American's strategic business development activities
in 2011. He was promoted to President in February, 2015. He played
a pivotal role in the successful acquisition of Aquiline Resources
Inc. (Navidad project) and Minefinders Corporation Ltd. (Dolores
mine), as well as numerous other exploration and business
development initiatives. Mr. Steinmann holds a Ph.D. in Natural
Sciences (Geology) from the Swiss Federal
Institute of Technology and a Degree in Corporate Finance
from Escuela Superior de Administración y Negocios.
Mr. Beaty commented, "I congratulate Michael on his appointment
as Chief Executive Officer for Pan American. He has been a
long-time and highly valued member of our executive team. I know
that he has the right mix of knowledge, experience and dedication
to take the reins of our Company at a time when we are expanding
two of our best assets and reconfiguring our portfolio to become
even stronger mine builders and operators. Michael is a
well-recognized and respected professional and will do an
outstanding job as our new CEO."
About Pan American Silver
Pan American Silver's mission is to be the world's pre-eminent
silver producer, with a reputation for excellence in discovery,
engineering, innovation and sustainable development. The Company
has seven operating mines in Mexico, Peru,
Argentina and Bolivia. Pan American also owns several
development projects in Mexico,
USA, Peru and Argentina.
SOURCE Pan American Silver Corp.