Teck Resources CEO Don Lindsay to depart mining giant in September

Teck Resources (TSX: TECK.A) didn’t have to do much digging for its new president and CEO.

The Vancouver-based mining giant revealed Tuesday Don Lindsay is departing the top job Sept. 30, while chief financial officer Jonathan Price has been tapped to take over as CEO and chief operating officer Harry (Red) Conger will assume the role of president.

Both Price and Conger are also being appointed to the board, where Lindsay will continue to serve.

Lindsay, who’s held the CEO job at Teck since 2005, has agreed to stick around in an advisory capacity until the second quarter of 2023.

Two years ago, Lindsay faced a potential ouster at the hands of activist shareholders after the company posted dismal first-quarter earnings at the outset of the pandemic.

Those efforts ultimately failed and news of Lindsay’s departure came the same day Teck reported a record quarterly profit attributable to shareholders of $1.7 billion.

Prior to joining the mining company 17 years ago, Lindsay had served as president of CIBC World Markets (TSX:CM).

“Learning how to manage a group like that was pretty valuable experience,” he told BIV in 2014.

Lindsay studied mining engineering at Queen’s University, worked underground in Uranium City, Sask., and was foreman at the Iron Ore Company of Canada. 

“I learned about mining from the ground up,” he said. “That was my true love, and where it all began.”

—With files from Nelson Bennett and Melanie Jackson

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@reporton

Interview with Don Lindsay, 2020
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