Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
See the Exhibit Index to this Form 6-K.
Exhibit
99.1

Wheaton Precious Metals Announces Leadership
Evolution: Haytham Hodaly Appointed President and CEO, Randy Smallwood to Become Chair of the Board
VANCOUVER, BC , Feb. 5, 2026 /CNW/ - Wheaton
Precious Metals™ Corp. ("Wheaton" or the "Company") today announced, as part of the Company's strategic succession
planning, Haytham Hodaly, currently President, will succeed Randy Smallwood as Wheaton's Chief Executive Officer ("CEO"), reflecting
an ongoing leadership evolution to support the next phase in the Company's growth trajectory.
After more than 15 years of leading the business he
co-founded, Mr. Smallwood will step down as CEO and assume the role of non-executive Chair of the Board of Directors, effective March
31, 2026. As Board Chair, Mr. Smallwood's ongoing involvement will provide leadership continuity and alignment to the Company's long-term
vision. George Brack, who has served as Chair of the Board since 2022 and Director since 2009, will concurrently transition to Lead Independent
Director.
Haytham Hodaly, currently serving as President, will
transition to President and CEO and join the Company's Board of Directors, effective March 31, 2026. As President and CEO, Mr. Hodaly
will guide the Company's strategy and ensure effective execution across all areas of the business.
Mr. Hodaly is a seasoned mining industry executive
who joined Wheaton in 2012 as Senior Vice President, Corporate Development before being promoted to President in 2025. A mining engineer
by training and a former Director and Mining Analyst at RBC, he brings a unique combination of technical expertise and capital markets
experience. Mr. Hodaly has played a pivotal role in executing more than $11 billion in streaming transactions, significantly advancing
the Company's growth trajectory, while building and leading one of the most highly regarded technical teams in the industry.
"I am honored to step into the role of President
and CEO at such an exciting time in both the Company's history and the broader precious metals market," said Haytham Hodaly, current
President and incoming CEO. "We have a clear vision for the future and an exceptionally strong foundation from which to grow, positioning
us well to support the next generation of mine builders in an unprecedented environment for gold and silver. Our focus remains on delivering
sustainable value for all stakeholders, while maintaining the principles that have made Wheaton a leader in the streaming industry. I
am deeply grateful to Randy for his guidance and mentorship, and to the Board for their confidence in me. I look forward to working closely
with our talented team and Board as we pursue new opportunities and advance the Company's next phase of growth."
"Building and leading this extraordinary organization
alongside such a dedicated and talented team has been the privilege of my career," said Randy Smallwood, CEO. "I am deeply grateful
to the Board – current and former members included – for its guidance and partnership over the past two decades, as well as
our team for their steadfast commitment to creating what I believe is one of the strongest precious metals companies in the world today.
I'd also like to extend my thanks to all of our stakeholders, for their continued trust and support as we helped transform the landscape
of mining financing.
This leadership evolution marks a significant milestone
in Wheaton's long-term strategy, to develop, support and elevate the next generation of leadership and further accelerate the Company's
momentum. I can truly say that I have never been more confident in our future. Haytham has been instrumental in shaping Wheaton's success
to date, and his leadership will be an essential element of our anticipated next phase of transformative growth. As I move into the role
of Chair of the Board, I remain fully committed to supporting him as CEO and continuing to create value for all stakeholders."
Since co-founding Wheaton in 2004 and becoming CEO
in 2011, Mr. Smallwood has been a transformative leader, guiding Wheaton from the world's first streaming business to one of the largest
precious metals companies in the world. Under his leadership, the Company has delivered consistent shareholder value by pursuing strategic
growth with a focus on high-quality assets, disciplined capital allocation and investing in innovation. Mr. Smallwood has also championed
sustainable, community-focused practices, including the launch of Wheaton's Community Investment Program, the first of its kind in the
streaming industry. His operational insight, commitment to fostering partnerships, and strategic vision have solidified Wheaton's reputation
for excellence and resilience in a dynamic global market.
"On behalf of the Board of Directors, I thank
Randy for his visionary leadership and his unwavering dedication to building not only the world's leading streaming company, but also
to advancing the broader mining industry," said George Brack, current Chair of Wheaton's Board of Directors. "His commitment
to the sector, passion for developing people, and his deep sense of community responsibility have been nothing short of remarkable. We
are very pleased that Randy will continue to provide his strategic insight and industry expertise as incoming Chair of the Board.
Over the past several years, the Board has strongly
supported Wheaton's leadership evolution, including the management transitions announced in 2025. We have tremendous confidence in Haytham,
who has consistently demonstrated outstanding leadership and played an instrumental role in shaping the strong growth profile that we
have today."
About Wheaton Precious Metals
Wheaton is the world's premier precious metals streaming
company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage
and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash
operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions.
Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate. Wheaton
creates sustainable value through streaming for all of its stakeholders.
SOURCE Wheaton Precious Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/February2026/05/c5558.html
%CIK: 0001323404
For further information: For further information, please contact:
Wheaton Precious Metals: Emma Murray, Vice President, Investor Relations, Tel: 1-844-288-9878, Email: info@wheatonpm.com
CO: Wheaton Precious Metals Corp.
CNW 17:00e 05-FEB-26