Barrick forms new North America leadership team as IPO plans advance

The gold producer has established a new executive structure for its North American operations in Nevada and the Dominican Republic, as it moves forward with plans to separate the business and launch an initial public offering in 2026.

Barrick Mining Corp. has created a new executive leadership team for its North American operations as the gold producer advances plans to pursue an initial public offering for the business.

The newly formed management structure will oversee Barrick’s operations in Nevada and the Dominican Republic, two of the company’s most important assets in the region. According to a memo seen by Bloomberg News, the leadership team will include seven positions and brings together several executives already involved in Barrick’s North American business.

Among the key appointments, Tim Cribb has been named chief operating officer, while Wessel Hamman will serve as chief financial officer. Megan Tibbals, previously general manager at Barrick’s Nevada Gold Mines venture, has been appointed chief technical officer for the North American business. The memo also states that Richard Peattie will become Barrick’s chief technical officer at the corporate level.

The move comes as Barrick pushes ahead with a broader strategic reset tied to a proposed spinoff and IPO of its North American assets. The company is seeking to unlock value by separating operations in lower-risk jurisdictions from assets located in more complex regions, including Mali and Pakistan.

The planned North American vehicle would include Barrick’s interests in the Nevada and Dominican Republic joint ventures with Newmont Corp., as well as the company’s Fourmile project in Nevada. Barrick is reportedly considering selling a 10% to 15% stake in the new entity later this year, while maintaining control of the business.

The restructuring marks Barrick’s latest effort to give the future standalone unit a clearer operational identity and a dedicated leadership structure ahead of a possible market listing. The company is pursuing the IPO after a period marked by operational challenges and management changes, including the sudden departure last September of longtime chief Mark Bristow, according to the report cited.

In the memo, Barrick chief executive officer Mark Hill said the new company “needs dedicated leadership to focus on its specific priorities,” adding that the changes will take effect on Wednesday.

The creation of a separate executive team is widely seen as an important step in preparing the North American business for a public offering, while also sharpening Barrick’s focus on portfolio optimization and capital market strategy.