Mining group has new boss at helm

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 $1.5m.

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.