Min­ing group has new boss at helm

Geelong Advertiser - - BUSINESS -

QUEENS­LAND’S New Hope Group has ap­pointed a new chief ex­ec­u­tive who last month faced court for drink driv­ing be­hind the wheel of his Porsche con­vert­ible.

New Hope an­nounced min­ing ex­ec­u­tive Rein­hold Sch­midt would take on the lead­er­ship role at the com­pany of­fi­cially on Septem­ber 1 on a base salary of $1.5 mil­lion.

It comes as cur­rent chief ex­ec­u­tive Shane Stephan steps down from the helm af­ter 11 years at the ASX-listed com­pany at the end of Au­gust.

In a state­ment to the ASX, New Hope said Mr Sch­midt “brings with him more than 20 years ex­pe­ri­ence in the min­ing in­dus­try”, most re­cently as CEO of Yan­coal Aus­tralia Pty.

Last month Mr Sch­midt was fined $300 and dis­qual­i­fied from driv­ing for six months af­ter a court heard he failed to give way at a pedes­trian cross­ing in Port Mac­quarie and blew 0.189.

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