Perth Mint boss to step down

The Perth Mint chief executive Richard Hayes is set to retire in the coming months, after he led the company to a record-breaking profit in 2021.

Perth Mint confirmed Mr Hayes was retiring from his role and would leave in the next six to eight months, depending on how long it took to find his successor. 

After joining the organisation as chief financial officer in 2003, he was promoted to chief executive in 2015. 

Mr Hayes said the time was right to hand over the reins early next year.

He said his focus before he left would be to ensure the organisation maintained its strong momentum across the refinery, depository and minted products divisions that it built over the past two years.

My Hayes will also retire from the board of Gold Corporation. 

Gold Corporation chair Sam Walsh said Mr Hayes was leaving at the top of his game, given the organisation's recent financial results.

Mr Walsh said the board would consider internal and external candidates for the role and ensure there was a handover period. 

In the 2021 financial year, the company posted an underlying profit of $56 million, making it the most successful year in its history.

Revenue increased by 10 per cent to $26 billion.

Commenting on the financials when they were released in September, Mr Hayes said the results were due to an increase in demand for gold and silver products during the COVID-19 pandemic.

Mr Hayes has also dealt with controversies over his time, including Perth Mint being subjected to an investigation by the London Bullion Market Association following allegations the business was buying gold from unethical miners in Papua New Guinea.

The investigation found the Perth Mint had not engaged in any serious misconduct.