6th Feb 2026 09:28
(Alliance News) - Wheaton Precious Metals PLC on Friday said its Chief Executive Randy Smallwood is stepping down after 15 years in the role.
The Vancouver-based mining firm has promoted Haytham Hodaly, currently president, to CEO, effective March 31.
Royal Bank of Canada alum Hodaly joined Wheaton in 2012, and according to the firm, "has played a pivotal role" in streaming transactions worth around USD11 billion.
Smallwood, who founded the company under the name Silver Wheaton in 2004, will transition to non-executive chair.
"As board chair, Mr Smallwood's ongoing involvement will provide leadership continuity and alignment to the company's long-term vision," Wheaton noted.
Current chair George Brack will switch to lead independent director.
"This leadership evolution marks a significant milestone in Wheaton's long-term strategy, to develop, support and elevate the next generation of leadership and further accelerate the company's momentum," said outgoing CEO Smallwood.
"I can truly say that I have never been more confident in our future. Haytham has been instrumental in shaping Wheaton's success to date, and his leadership will be an essential element of our anticipated next phase of transformative growth. As I move into the role of chair of the board, I remain fully committed to supporting him as CEO and continuing to create value for all stakeholders."
Smallwood also thanked Wheaton staff for helping build what he called "one of the strongest precious metals companies in the world today", and said its investors had "helped transform the landscape of mining financing."
Wheaton shares were down 2.7% to 9,560.00 pence on Friday morning in London, but edged up 0.6% to USD131.65 pre-market in New York. The stock closed 6.4% lower at CAD179.19 on Thursday in Toronto.
Back in November, the company closed a USD300 million gold streaming deal with Carcetti Capital Corp, which has since rebranded as Hemlo Mining Corp, having acquired the Hemlo mine from Barrick Mining Corp. The same month, Wheaton hailed "record" third-quarter results, with revenue up 55% on-year to USD476.3 million from USD308.3 million. Net earnings in the three months ended September 30 more than doubled to USD367.2 million from USD154.6 million, on the back of rising production and gold prices.
By Holly Munks, Alliance News reporter
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