Canadian gold miner Dundee Precious Metals Inc. CEO and President Rick Howes will step down, effective May 7, 2020, as part of the company's executive succession planning process.

COO David Rae will take over as president and CEO, effective the same day.

Additionally, Howes will not stand for reelection as director, and Rae will be appointed director, effective Jan. 1, 2020, according to the Dec. 16 release.