Barrick Mining Corp. has established a seven-member executive leadership team to advance plans for a North American initial public offering. The new structure, effective Wednesday, will oversee Barrick's Nevada and Dominican Republic operations as the gold producer seeks a reset following recent operational challenges.

The appointments include Tim Cribb as chief operating officer, Wessel Hamman as CFO, and Megan Tibbals as chief technical officer. This leadership reshuffle comes after CEO Mark Bristow's sudden departure last September and precedes what could be a $60 billion-plus spinoff that would separate North American assets from riskier jurisdictions.

The North American spinoff, set to include joint ventures with Newmont Corp., will see Barrick sell a 10% to 15% stake later this year. CEO Mark Hill emphasized that the newly formed company requires specialized leadership to address its distinct priorities, aiming to reverse years of declining output and position these valuable assets for independent growth.