JOHANNESBURG (miningweekly.com) – Former Agnico-Eagle senior vice-president of finance and CFO David Garofalo has been appointed as president and CEO of TSX-listed Hudbay Minerals.

Garafalo would take over from interim CEO Warren Holmes on July 12, the company, which mines zinc, copper, gold and silver, announced on Monday.

HudBay has seen a series of leadership changes over the last two-and-a-half years.

In January 2008, the Toronto-based company appointed Allen Palmiere as CEO to succeed Peter Jones, but Palmiere resigned after an ill-fated attempt to buy Lundin Mining.

He was succeeded by Colin Benner, but dissident shareholders managed to replace the HudBay board with new directors, which then reappointed Jones as CEO.

However, in November 2009, HudBay announced that Jones would retire at the end of the year.

“We are extremely pleased to have someone of David's caliber and reputation joining us to lead the company into the future. His track record in the mining industry and experience helping lead a company through a rapid period of growth will serve him well as he joins HudBay at this exciting juncture in its history,” Hudbay chairperson Wesley Voorheis commented.

Garofalo had joined Agnico-Eagle in 1998 and was named as Canada’s 2009 CFO of the Year by Financial Executives International Canada, TopGun CFO by Brendan Wood International and was given the award for Best Investor Relations by a CFO by IR Magazine.

He is a graduate of the University of Toronto and a chartered accountant.

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