TSX- and NYSE-listed Eldorado Gold has completed a leadership transition process, with the board having appointed Dan Myerson as chairperson and Patrick Godin as lead independent director.

Myerson succeeds Steven Reid, who stepped down from the board after more than five years in the chairperson position and 13 years as a director.

The appointments form part of the board's ongoing and previously announced succession and renewal process as Eldorado advances through a period of significant growth.

CEO George Burns says Reid guided the company through a transformative period, including the advancement of the Skouries project, the acquisition of Foran's McIlvenna Bay project, and the development of a strong governance framework that positions Eldorado for continued success.

He adds that Myerson and Godin both bring strategic, operational and governance experience to their positions, with Myerson having a deep understanding of Eldorado and long-term value-creation opportunities (having worked as CEO and executive chairperson of Foran) and Godin having more than four decades of experience in the mining industry.

Burns is due to retire as CEO at the end of September, but will remain on the board of directors. Christian Milau will assume the role of president and CEO of the group effective September 30.

Paul Ferneyhough's role will expand to strategy executive VP and CFO on the same date.

Eldorado's Skouries copper/gold project is located in Greece while the McIlvenna Bay project is prospective for copper, zinc, gold and silver in Saskatchewan, Canada. The company has existing gold mines in Türkiye (Efemçukuru and Kışladağ), in Greece (Olympias) and Canada (Lamaque). 

Meanwhile, Eldorado produced 104 616 oz of gold in the second quarter and generated net cash from operating activities of $149-million. The group's net earnings attributable to shareholders amounted to $172-million, or $0.69 apiece, in the three months ended June 30.

The company updated its consolidated yearly gold production guidance to between 495 000 oz and 600 000 oz, reflecting the addition of initial gold production from McIlvenna Bay.