Ross Beaty, the geologist and serial entrepreneur who founded a string of mining and renewable energy companies, plans to retire from at least one of the companies he founded and chairs.
Pan American Silver Corp. TSX,NYSE:PAAS), which Beaty founded in the 1990s, has announced Beaty will retire as chairman and director in May.
Gillian Winckler will take his position as chairperson, and Beaty will be named chair emeritus. He is not retiring as chairman of one other company he co-founded, however. Beaty is staying on a chairman Equinox Gold (TSX:EQX).
Beaty founded Pan American in 1994 and served as the company’s CEO until 2004. Pan American is now the second largest silver producer in the world.
“Pan American Silver has never been in a better financial and operating condition, with many prospects for growth,” Beaty said in a press release. “I have full confidence in the company's leadership team and its employees to continue creating value for all stakeholders well into the future."
In addition to founding Pan American Silver and co-founding Equinox Gold, Beaty also founded Alterra Power Corp., a renewable Energy company, which was sold to Innergex Renewable Energy Inc. (TSX: INE) for $1.1 billion in 2018.