Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) confirmed on July 30, 2026, that Christian Milau will assume the role of President and Chief Executive Officer effective September 30, 2026. This appointment coincides with the retirement of George Burns from his executive position, marking a definitive leadership transition as the gold producer shifts focus from construction to operations at its Skouries project in Greece. The change ensures continuity in strategic execution during this critical operational phase.

George Burns will retire as Chief Executive Officer but will remain on the Company’s Board of Directors. Steve Reid, Chair of the Board, noted that Burns oversaw the advancement of Skouries toward production over his nine-year tenure. Milau, who has worked closely with Burns and the Board over the past three quarters, brings operational and capital markets experience to the top role. He will also join the Board of Directors upon assuming the CEO position.

Executive Leadership Changes

The transition involves several key changes to the senior management team, effective September 30, 2026:

Frank Herbert, currently Executive Vice President, General Counsel & Chief Compliance Officer, will transition to a Senior Advisor role in advance of his planned retirement in Q2 2027. In this capacity, he will continue to provide legal expertise and support on strategic matters. Tamiko Ohta, who has served as Vice President, Legal for three years, will be appointed Senior Vice President, Legal and General Counsel.

Paul Ferneyhough’s role will expand to Executive Vice President, Strategy and Chief Financial Officer, assuming oversight of Corporate Development and Legal functions following Herbert’s transition.

Operational Restructuring in Greece

With Skouries moving into operations, the Executive Vice President, Development, Greece role is no longer required. Louw Smith will leave the Company effective September 30, 2026. Responsibility for Greece operations will transition to Niklas Frank, Senior Vice President Operations, Europe, who reports to Simon Hille, Executive Vice President & Chief Operating Officer. This change establishes a single point of accountability for Eldorado’s operations in Greece.

Strategic Outlook

Milau emphasized the company’s robust pipeline of internal growth opportunities through brownfield expansion projects and a prospective exploration portfolio. He stated that the focus remains on safe, disciplined execution across operations and development pipelines to deliver long-term value for shareholders. The strengthened projects team, led by Gordana Vicentijevic, Senior Vice President, Projects, will continue to oversee major global projects and future development activities.

Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) has completed its Board of Directors leadership transition, appointing Dan Myerson as Chair and Patrick Godin as Lead Independent Director effective July 30, 2026. Steven Reid stepped down from the Board after 13 years of service, including more than five years as Chair. The leadership change supports governance continuity as the gold, copper, and base metals producer advances through a period of significant growth, with the Skouries project nearing commercial production and the McIlvenna Bay project ramping up operations.

The appointments are part of the Board’s ongoing succession and renewal process. Mr. Myerson joined Eldorado’s Board following the acquisition of Foran Mining Corporation and served as Deputy Chair since that time. As a mining entrepreneur, he most recently served as Chief Executive Officer and Executive Chair of Foran, where he led the development of the McIlvenna Bay Project. Prior to Foran, Mr. Myerson held senior roles with Glencore’s Canadian zinc business and global trading group.

Mr. Godin brings more than 40 years of mining industry experience, having held executive leadership positions spanning mine construction, operations, safety performance, and corporate growth initiatives. As Lead Independent Director, he will support effective Board governance and serve as a key liaison among the independent directors, the Chair, and management. His extensive operational experience provides valuable insight as Eldorado continues to advance and optimize its portfolio of assets in Canada, Türkiye, and Greece.

George Burns, Chief Executive Officer, thanked Mr. Reid for his leadership and strategic guidance over the past 13 years. "As Chair, Steve has helped guide the Company through a transformative period, including the advancement of Skouries, the acquisition of Foran and McIlvenna Bay, and the development of a strong governance framework that positions Eldorado for continued success," said Mr. Burns. He noted that Mr. Myerson and Mr. Godin bring a highly complementary combination of strategic, operational, and governance experience.

Mr. Myerson stated that Eldorado is positioned to maximize value per share, citing some of the longest mine lives and progress towards the lowest costs in the global critical minerals and precious metals sectors. He emphasized support for management’s focus on disciplined execution, operational excellence, and responsible growth.

Key Board Leadership Changes

What This Means for Governance

The transition ensures experienced oversight during a critical phase of asset development. With Skouries nearing commercial production and McIlvenna Bay ramping up, the new leadership structure combines deep industry knowledge with fresh strategic perspective. The Board’s renewal process aims to maintain strong governance frameworks while supporting long-term shareholder value creation through disciplined execution and operational excellence.