Acacia Mining replaces chief operating officer

Gold producer Acacia Mining said its chief operating officer Michelle Ash will step down from her role with immediate effect.

Ash will replace by group chief executive Brad Gordon, who indicated the company will reassess the situation as regards to any potential replacement early next year.

“I would like to express my thanks to Michelle for her contribution to Acacia over the past two years and wish her all the best for the future,” said Gordon.

“I will again take direct responsibility for the operations given that our number one priority is achieving the planned improvement in performance in the fourth quarter.”

Acacia shares were down 2.87% to 172.40p at 0830 GMT on Friday.