Eldorado Gold CEO George Burns and Chair Steven Reid Announce Retirements Amid Foran Mining Acquisition
Eldorado Gold Corp. CEO George Burns and Board Chair Steven Reid announced their retirements during the company's $3.8-billion acquisition of Foran Mining Corp. Shareholder approval for the deal is set for April 7, which would add Foran's McIlvenna Bay project to Eldorado's portfolio. Christian Milau, current president of Eldorado, will succeed Burns as CEO in Q3 2026. The announcement comes as both companies' shares have declined amid investor confusion over the transaction.
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Eldorado Gold Corp. announced the retirements of CEO George Burns and Board Chair Steven Reid coinciding with its $3.8-billion acquisition of Foran Mining Corp. A shareholder vote on the deal, which would integrate Foran's McIlvenna Bay copper and zinc project, is scheduled for April 7.
Christian Milau, currently president, will take over as CEO in Q3 2026. The timing of the retirements during an acquisition is notable, as Eldorado aims to diversify its revenue with copper, projected to represent 15% of the combined company’s earnings. Eldorado operates major mines in Quebec and Turkey and is nearing production at the Skouries project in Greece.
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