Newmont scored high on the Modern Board 25’s rankings for gender equality, nationality dispersion, and board independence. The mining company has received analyst praise for its high dividend yield, strong balance sheet, low debt-to-earnings ratio, and production pipeline longevity. The company expects to deliver approximately 7.5 million ounces of gold by year-end 2022.
Newmont has implemented several ESG measures into its corporate structure in recent years. The company released its first climate strategy report in 2021, along with annual sustainability and conflict-free-gold reports. Focusing on board diversity, the company reported achieving gender parity for nonexecutive directors in 2020 with the appointment of former American Water Works CEO Susan Story, and reported in 2021 that 70% of its current directors were gender, racially, or ethnically diverse. Including COVID-19 response in its ESG reporting, Newmont announced a $20 million global community support fund to aid communities, governments, and employees through the pandemic; it implemented a vaccine mandate for all employees and third-party contractors in November.
Newmont has six former CEOs on its board, including former Puma Energy CEO Emma FitzGerald and former oilfield services company Tesco CEO Julio Quintana. Newmont CEO Tom Palmer is also a director. Gregory Boyce, former CEO of Peabody Energy and former chairman of the National Mining Association, is chair of Newmont’s board.
Thomas R. Palmer
|No. of employees||14,400|
Metals and Mining