NEXA Resources Announces CFO Resignation

Rhea-AI Summary

Nexa Resources announces that Mr. Rodrigo Menck will step down as Chief Financial Officer (CFO) effective July 6, 2022. Menck has been with Nexa since 2016, contributing significantly to its capital structure and involvement in the company’s IPO. Claudia Torres, with over 20 years of experience, has been appointed as interim CFO. Nexa operates five underground mines and is a leading zinc producer in Latin America. The company is currently searching for a permanent CFO.

Positive

• Claudia Torres's extensive experience in finance and risk management may provide stability during the transition.
• The company has a robust capital structure and successful history of fundraising, indicating financial resilience.

Negative

• The departure of a long-standing CFO may raise concerns about continuity in financial leadership.
• Transition periods can create uncertainty in financial operations and strategy execution.

LUXEMBOURG / ACCESSWIRE / June 6, 2022 / Nexa Resources S.A. ("Nexa Resources" or "Nexa" or the "Company") (NYSE Symbol:"NEXA") announces that Mr. Rodrigo Menck, Senior Vice President of Finance and Group Chief Financial Officer ("CFO"), has informed that he will be stepping down from his role of CFO as of July 06, 2022.

Mr. Menck joined Nexa in 2016 and served as Head of Treasury & Investor Relations prior to being nominated as CFO in January 2019. Rodrigo was directly involved in Nexa's IPO and through his leadership, the Company was successful on fundraising in capital markets and managing its capital structure, particularly during the pandemic.

Ignacio Rosado, President and Chief Executive Officer ("CEO"), said "On behalf of the Board of Directors and the Nexa team, I would like to thank Rodrigo for his outstanding commitment and contributions to our growth. Rodrigo helped us build a solid capital structure to support our future success. We wish him success in his future endeavors."

Nexa has initiated a search to identify its next CFO and for the interim period, Mrs. Claudia Torres, head of Corporate Controller, has been appointed as CFO.

Claudia is a senior professional with more than 20 years of expertise in finance, controlling, and risk management. She began her career with the Company in 2001 as a financial analyst and was named CFO of Nexa Peru, formerly Milpo, in 2014. After Nexa's IPO (2017), Claudia assumed a corporate role in compliance, internal controls, and risks until 2020, when she became the Company's Corporate Controller.

Claudia holds a Bachelor of Business Administration from the Universidad del Pacífico in Peru, where she received the "Robert Maes" award, and an MBA from INSEAD business school in France.

About Nexa

Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life underground mines - three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil - and is developing the Aripuanã Project as its sixth underground mine in Mato Grosso, Brazil. Nexa also currently owns and operates three smelters, two located in Brazil and one in Peru, Cajamarquilla, which is the largest smelter in the Americas. Nexa was among the top five producers of mined zinc globally in 2021 and also one of the top five metallic zinc producers worldwide in 2021, according to Wood Mackenzie.

Cautionary Statement on Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this news release as "forward-looking statements"). Forward-looking statements contained in this news release may include, but are not limited to, zinc and other metal prices and exchange rate assumptions, projected operating and capital costs, metal or mineral recoveries, head grades, mine life, production rates, and returns; the Company's potential plans; the estimation of the tonnage, grade and content of deposits and the extent of the Mineral Resource and Mineral Reserve estimates; timing of commencement of production; exploration potential and results; the timing and receipt of necessary permits for future operations; the impacts of COVID-19 in our operations.

These statements are based on information currently available to the Company and the Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons. All statements other than statements of historical fact are forward-looking statements. The words "believe," "will," "may," "may have," "would," "estimate," "continues," "anticipates," "intends," "plans," "expects," "budget," "scheduled," "forecasts" and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the above mentioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental, or other risks that could materially affect the potential development of the Project, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally.

These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management's expectations with respect to, but not limited to, the business and operations of the Company and mining production, our growth strategy, the impact of applicable laws and regulations, future zinc and other metal prices, smelting sales, capex, expenses related to exploration and project evaluation, estimation of Mineral Reserves and/or Mineral Resources, mine life and our financial liquidity.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable and appropriate by management and qualified persons considering their experience are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, full integration of mining and smelting operations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, among other assumptions.

Estimates and forward-looking statements refer only to the date when they were made, and we do not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov).

For further information, please contact:

Roberta Varella - Head of Investor Relations
ir@nexaresouces.com
+55 11 94473-1388

SOURCE: Nexa Resources S.A.

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FAQ

Why is Rodrigo Menck stepping down as CFO of Nexa?

Rodrigo Menck is stepping down to pursue future endeavors, as stated by Nexa's CEO.

Who will replace Rodrigo Menck as CFO of Nexa?

Claudia Torres has been appointed as the interim CFO after Menck's resignation.

What impact might Rodrigo Menck's resignation have on Nexa's stock (NEXA)?

While Menck’s departure may lead to some uncertainty, Claudia Torres's experience may mitigate risks.

When is Rodrigo Menck's last day as CFO of Nexa?

Rodrigo Menck's last day as CFO will be on July 6, 2022.

What has Claudia Torres accomplished prior to becoming Nexa's interim CFO?

Claudia Torres has over 20 years of experience and has held various roles in finance at Nexa since 2001.