Tahoe Resources Inc. said President, CEO and director Ronald Clayton is set to retire June 15, and long-time director James Voorhees will take his place.
The management change comes as Tahoe continues to push for the restart of mining at its Escobal silver mine in Guatemala, where production has been suspended for almost a year amid legal wrangling over mining rights.
Voorhees said in a statement that the company would be "focused on the restart of operations at Escobal at the earliest opportunity" as it pursues other growth projects. He has been a director since 2010 and will keep his position on the board.
Tahoe reported a first-quarter loss of US$6.9 million, partly due to the Escobal shutdown. It produced 91,000 ounces of gold, down from 119,000 ounces in the same period a year ago, while silver production plummeted from 5.7 million ounces to 34,000 ounces.
