ARIS MINING ANNOUNCES BOARD AND MANAGEMENT UPDATES
Rhea-AI Summary
Aris Mining (TSX: ARIS, NYSE-A: ARMN) announced board and senior management changes effective January 22, 2026, as it shifts to an execution-focused structure. Ian Telfer retired as chair and will serve in an advisory role. Founder Neil Woodyer was named Chair and Chief Executive Officer, David Garofalo was appointed Lead Independent Director, and Doug Bowlby was promoted to President. The Chief Operating Officer role was eliminated and Richard Thomas departed. Operational execution will be led by SVPs Dustin VanDoorselaere and Cornelius Lourens reporting to the CEO.
Positive
- Combined Chair and CEO role may streamline decision-making
- Lead Independent Director added to strengthen independent oversight
- Promotion of Doug Bowlby to President maintains continuity in strategy
- SVPs for Operations and Projects now report directly to the CEO
Negative
- Elimination of the COO role and departure of Richard Thomas may disrupt operations
- Concentration of Chair and CEO duties increases governance scrutiny risk
Key Figures
Market Reality Check
Peers on Argus
ARMN fell 1.48% while key gold peers like SA (+13.31%), ODV (+7.22%), DRD (+4.72%), CGAU (+2.26%) and CNL (+0.82%) traded higher, indicating a stock-specific reaction to the governance news rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Production update | Positive | -1.5% | Reported 2025 gold output up 22% and above guidance midpoint. |
| Jan 08 | Resource update | Positive | -2.9% | Expanded Segovia resources and reserves with higher-grade profiles. |
| Dec 12 | Acquisition close | Positive | +2.8% | Closed acquisition of remaining 49% of Soto Norte, reaching 100% ownership. |
| Nov 20 | Acquisition terms | Positive | -3.9% | Agreed to buy remaining 49% of Soto Norte, boosting reserves and resources. |
| Nov 19 | Legal settlement | Positive | +1.0% | Ended ICSID arbitration with Colombia with no cash payment and long-term accords. |
Recent history shows several strong operational and growth updates followed by negative or muted price reactions, suggesting the stock has often traded counter to positive fundamental news.
Over the past few months, Aris Mining has reported a series of growth-oriented milestones. On Nov 19, 2025, it ended ICSID arbitration with Colombia with no cash payment. On Nov 20 and Dec 12, 2025, it moved to acquire and then closed the remaining 49% of Soto Norte, lifting reserves and securing 100% ownership. In early 2026, it expanded Segovia’s resources and reported 256,503 oz of 2025 production, up 22%. Against this backdrop, today’s board and management restructuring supports execution of that growth pipeline.
Market Pulse Summary
This announcement details a governance and management reshaping as Aris Mining pursues its long-term target of approximately 1.0 million ounces of annual gold production. The founder assumes both Chair and CEO roles, supported by a new Lead Independent Director and a streamlined senior team overseeing operations and projects. In context of recent production growth and portfolio expansion, investors may focus on how this simplified structure affects execution across Segovia, Marmato, Toroparu, and Soto Norte, as well as future operational and regulatory disclosures.
AI-generated analysis. Not financial advice.
Ian Telfer Retires as Chair; Board and Management Structure Repositioned for Execution Neil Woodyer Appointed Chair and Chief Executive Officer
Board Leadership Changes:
- Ian Telfer has retired from the Board of Directors and stepped down as Chair of Aris Mining. Mr. Telfer has served as Chair since February 2021 and played a key role in the formation and growth of Aris Mining, and its predecessor, Aris Gold. Following his retirement from the Board, Mr. Telfer will continue in an advisory capacity to support Aris Mining and the Board with the Company's continued growth.
In connection with this transition, the Board has approved a streamlined governance structure:
- Neil Woodyer, Founder of Aris Mining, has been appointed Chair and Chief Executive Officer, reflecting his central role in establishing the Company and leading its strategy, capital allocation, and operational growth.
- David Garofalo has been appointed to the newly created role of Lead Independent Director, strengthening independent Board oversight while maintaining an efficient Board structure aligned with execution priorities.
Neil Woodyer, CEO of Aris Mining, commented "Ian has played an influential role in the development of Aris Mining as a company with high-quality assets, strong governance, and a clear long-term vision. On behalf of the Board and management, I thank Ian for his mentorship and leadership. We are pleased that he will continue to provide advice to the Company as we enter a period defined by execution and delivery. This more direct leadership structure positions Aris Mining to remain focused, decisive, and accountable."
The Board and management extend their sincere appreciation to Mr. Telfer for his contributions and continued support of the Company.
The Board believes the combined role of Chair and CEO is appropriate at this stage of the Company's development with the support of a strong Lead Independent Director with clearly defined authorities and a Board comprised of a majority of independent directors. The Lead Independent Director role includes responsibility for presiding over in-camera sessions of independent directors, approving Board agendas and information flow, and serving as the primary liaison between independent directors and management.
Management Leadership Changes:
In parallel with the Board changes, Aris Mining has implemented targeted senior management updates to support a more streamlined, execution-focused leadership structure:
- Doug Bowlby has been promoted to President, supporting Neil Woodyer's transition to Chair and Chief Executive Officer. In this role, the President will provide leadership across corporate strategy, capital markets, and corporate initiatives, supporting the Chief Executive Officer in advancing the Company's priorities.
As part of this realignment, the Chief Operating Officer role has been eliminated, and Richard Thomas has departed the Company. The Board and management thank Mr. Thomas for his contributions and service.
Operational and project execution responsibilities will now be led directly by existing members of the Company's senior leadership team:
- Dustin VanDoorselaere, Senior Vice President, Operations, and
- Cornelius (Corné) Lourens, Senior Vice President, Projects,
both of whom will report directly to the Chief Executive Officer.
This simplified structure is intended to enhance accountability, shorten decision-making pathways, and align leadership more directly with the Company's operational execution and growth objectives.
All Board and management changes announced herein are effective immediately.
About Aris Mining
Founded in September 2022, Aris Mining was established with a vision to build a leading
Aris Mining operates two underground gold mines in
Beyond its operating assets, Aris Mining has a development pipeline that supports its longer-term growth outlook to achieve annual production of approximately 1.0 million ounces of gold1. In Guyana, Aris Mining owns the Toroparu gold project, where a Preliminary Economic Assessment was completed in October 2025 and a Prefeasibility Study is in progress, positioning the project to advance toward construction. In
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
________________________________________ |
1 Includes potential production estimates from Toroparu, which is based on a preliminary economic assessment and is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There can be no assurance that the projected production will be achieved. Such production also remains subject to obtaining all necessary permits for both Soto Norte and Toroparu. |
Cautionary Language
Qualified Person
Pamela De Mark, P.Geo., Senior Vice President Geology and Exploration of Aris Mining, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical information contained in this news release.
Forward-Looking Information
This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact including without limitation, statements related to the anticipated benefits to be derived from the new leadership structure, the anticipated changes to the roles and responsibilities of the President, production outlook, and statements included in the "About Aris Mining" section of this news release relating to the annual gold production targets, the Segovia Operations, Marmato Complex, Soto Norte Project and Toroparu Project are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.
Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at www.sedarplus.ca and included as part of the Company's Annual report on Form 40-F, filed with the SEC at www.sec.gov.
Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
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SOURCE Aris Mining Corporation
FAQ
What board changes did Aris Mining (ARMN) announce on January 22, 2026?
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What senior management changes did Aris Mining (ARMN) make on January 22, 2026?
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Does Aris Mining (ARMN) say Ian Telfer will remain involved after retiring as chair?
