Talisman MiningLtd. said April 1 that Gary Lethridge stepped down as its managing director,deeming it the right time to do so given the company's strong financial position,the significant recent progress at the Monty copper-gold discovery in Western Australia and hisdesire to spend more time with his family.

Following Lethridge's resignation, Talisman CFO Dan Madden wasnamed acting CEO while the company's board initiates an executive process.

Former investment banker Jeremy Kirkwood was also appointed asTalisman's nonexecutive chairman to replace Alan Senior, who has agreed to resignas the miner's chairman but will remain on the board as a nonexecutive director.