David Garofalo, the brand new leader of Goldcorp Inc., made his first big mark on Wednesday night as the company announced a series of management changes.
The moves weren’t a surprise. Garofalo has been referring to decentralizing hq control at Goldcorp and giving the mine managers more accountability.
“This allows the organization to move forward with a refreshed management team,” BMO Capital Markets analyst Andrew Kaip said inside a note.
Michael Parkin of Desjardins Securities added the changes towards the corporate team of developers suggest Goldcorp isn’t likely to create a major acquisition anytime soon.
That could be in line with Garofalo’s stated strategy. Goldcorp is a serial acquirer during the last decade, but Garofalo wants to concentrate on the company’s organic growth projects instead of M&A.
