Eldorado Gold Management

Management criteria checks 2/4

Eldorado Gold's CEO is George Burns, appointed in Apr 2017, has a tenure of 7.58 years. total yearly compensation is $3.92M, comprised of 20.4% salary and 79.6% bonuses, including company stock and options. directly owns 0.25% of the company’s shares, worth €7.74M. The average tenure of the management team and the board of directors is 1.3 years and 5.5 years respectively.

Key information

George Burns

Chief executive officer

US$3.9m

Total compensation

CEO salary percentage	20.4%
CEO tenure	7.6yrs
CEO ownership	0.3%
Management average tenure	1.3yrs
Board average tenure	5.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has George Burns's remuneration changed compared to Eldorado Gold's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$287m
Jun 30 2024	n/a	n/a	US$180m
Mar 31 2024	n/a	n/a	US$125m
Dec 31 2023	US$4m	US$801k	US$109m
Sep 30 2023	n/a	n/a	US$129m
Jun 30 2023	n/a	n/a	US$107m
Mar 31 2023	n/a	n/a	US$83m
Dec 31 2022	US$3m	US$753k	US$24m
Sep 30 2022	n/a	n/a	-US$124m
Jun 30 2022	n/a	n/a	-US$87m
Mar 31 2022	n/a	n/a	-US$33m
Dec 31 2021	US$4m	US$807k	US$21m
Sep 30 2021	n/a	n/a	US$84m
Jun 30 2021	n/a	n/a	US$130m
Mar 31 2021	n/a	n/a	US$148m
Dec 31 2020	US$4m	US$786k	US$131m
Sep 30 2020	n/a	n/a	US$192m
Jun 30 2020	n/a	n/a	US$142m
Mar 31 2020	n/a	n/a	US$105m
Dec 31 2019	US$3m	US$770k	US$81m
Sep 30 2019	n/a	n/a	-US$229m
Jun 30 2019	n/a	n/a	-US$361m
Mar 31 2019	n/a	n/a	-US$398m
Dec 31 2018	US$3m	US$733k	-US$362m
Sep 30 2018	n/a	n/a	-US$165m
Jun 30 2018	n/a	n/a	-US$41m
Mar 31 2018	n/a	n/a	-US$5m
Dec 31 2017	US$6m	US$729k	-US$7m

Compensation vs Market: George's total compensation ($USD3.92M) is above average for companies of similar size in the German market ($USD1.92M).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.

CEO

George Burns (64 yo)

7.6yrs

Tenure

US$3,916,236

Compensation

Mr. George Raymond Burns has been an Independent Director of Turquoise Hill Resources Ltd. since January 21, 2020. He has been the President and Chief Executive Officer of Eldorado Gold Corporation since A...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
George Burns	President	7.6yrs	US$3.92m	0.25% € 7.7m
Paul Ferneyhough	CFO & Executive VP	less than a year	US$1.04m	0.012% € 366.0k
Frank Herbert	Executive VP	1.8yrs	US$1.24m	0.0038% € 114.4k
Simon Hille	Executive VP of Technical Services & Operations	no data	no data	0.0076% € 232.4k
Lynette Gould	Vice President of Investor Relations	1.6yrs	no data	0.00081% € 24.6k
Graham Morrison	Vice President of Corporate Development	3.1yrs	no data	0.011% € 345.0k
Stephanie Shaw	Vice President of Human Resources	less than a year	no data	0.000080% € 2.4k
Claire Chamberlain	Vice President of Exploration	1.3yrs	no data	0.00046% € 14.0k
Per Frank	Senior Vice President of Operations	less than a year	no data	0.0049% € 148.8k
Nora Lozano	Vice President of Health	1.8yrs	no data	0.00051% € 15.5k
Ryan Swedburg	Senior Vice President of Finance	1.2yrs	no data	0.00079% € 24.0k
Louw Smith	Executive Vice President of Development - Greece	less than a year	no data	no data

1.3yrs

Average Tenure

Experienced Management: ELO1's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
George Burns	President	7.6yrs	US$3.92m	0.25% € 7.7m
John Webster	Independent Director	9.8yrs	US$184.91k	no data
Steven Reid	Independent Non-Executive Chairman of the Board	11.5yrs	US$249.05k	0.011% € 327.9k
Teresa Conway	Independent Director	6.4yrs	US$173.59k	0.0051% € 156.4k
Catharine E. Farrow	Independent Director	4.6yrs	US$173.59k	0.0037% € 111.6k
Stephen Walker	Independent Director	2.4yrs	US$158.49k	0.0049% € 149.1k
Judith Mosely	Independent Director	4.2yrs	US$173.59k	0.00026% € 7.9k
Carissa Browning	Independent Director	2.8yrs	US$158.49k	0.00098% € 29.8k

5.5yrs

Average Tenure

65yo

Average Age

Experienced Board: ELO1's board of directors are considered experienced (5.5 years average tenure).

Eldorado Gold Management

Management criteria checks 2/4

Key information

Recent management updates

Insider recently sold €695k worth of stock

Insider recently sold €750k worth of stock

President recently sold €1.9m worth of stock

Eldorado Gold Corporation, Annual General Meeting, Jun 04, 2024

Eldorado Gold Corporation Announces Executive Changes, Effective January 1, 2024

Insider recently sold €418k worth of stock

Recent updates

New minor risk - Earnings quality

Eldorado Gold Corporation Revises Production Guidance for the Year 2024

Third quarter 2024 earnings released: EPS: US$0.49 (vs US$0.032 loss in 3Q 2023)

Eldorado Gold Corporation to Report Q3, 2024 Results on Oct 31, 2024

Second quarter 2024 earnings released: EPS: US$0.28 (vs US$0.008 in 2Q 2023)

Eldorado Gold Corporation to Report Q2, 2024 Results on Jul 25, 2024

Insider recently sold €695k worth of stock

Insider recently sold €750k worth of stock

Eldorado Gold Corporation Maintains Production Guidance for the 2024

First quarter 2024 earnings released

Eldorado Gold Corporation to Report Q1, 2024 Results on Apr 25, 2024

President recently sold €1.9m worth of stock

Investor sentiment improves as stock rises 16%

Eldorado Gold Corporation, Annual General Meeting, Jun 04, 2024

Full year 2023 earnings released: EPS: US$561 (vs US$0.27 loss in FY 2022)

Eldorado Gold Corporation Provides Production Guidance for the Year 2024, 2025, 2026 and 2027

Eldorado Gold Corporation to Report Q4, 2023 Results on Feb 22, 2024

Eldorado Gold Corporation Releases Updated Mineral Reserve and Mineral Resource Statement

Eldorado Gold Corporation Announces Executive Changes, Effective January 1, 2024

Insider recently sold €418k worth of stock

Eldorado Gold Corporation Revises Production Guidance for the Fiscal Year 2023

Third quarter 2023 earnings released: US$0.034 loss per share (vs US$0.28 loss in 3Q 2022)

Eldorado Gold Corporation to Report Q3, 2023 Results on Oct 26, 2023

Now 20% undervalued

Second quarter 2023 earnings released: EPS: US$0.008 (vs US$0.12 loss in 2Q 2022)

Eldorado Gold Corporation Provides Production Guidance for the Year 2023

Eldorado Gold Corporation to Report Q2, 2023 Results on Jul 27, 2023

Eldorado Gold Corporation announced that it has received CAD 81.500003 million in funding from European Bank for Reconstruction and Development

President recently bought €227k worth of stock

New minor risk - Shareholder dilution

Eldorado Gold Corporation has completed a Follow-on Equity Offering in the amount of CAD 135.2 million.

Eldorado Gold Corporation announced that it expects to receive CAD 81.500003 million in funding from European Bank for Reconstruction and Development

Executive VP & COO recently sold €1.5m worth of stock

First quarter 2023 earnings released: EPS: US$0.12 (vs US$1.74 loss in 1Q 2022)

Investor sentiment improves as stock rises 15%

Full year 2022 earnings released: EPS: US$0.13 (vs US$0.11 in FY 2021)

Eldorado Gold Corporation to Report Q4, 2022 Results on Feb 23, 2023

Insider recently sold €867k worth of stock

Eldorado Gold Releases Updated Mineral Reserve and Mineral Resource Statement

Third quarter 2022 earnings released: US$0.28 loss per share (vs US$0.047 profit in 3Q 2021)

Eldorado Gold Corporation to Report Q3, 2022 Results on Oct 27, 2022

Eldorado Gold Corporation Provides Exploration Update Highlighting Resource Expansion Upside at Lamaque, Efemcukuru, and Olympias

Second quarter 2022 earnings released: US$0.12 loss per share (vs US$0.17 profit in 2Q 2021)

Eldorado Gold Corporation to Report Q2, 2022 Results on Jul 28, 2022

Eldorado Gold Corporation Announces Director Changes

First quarter 2022 earnings released: US$1.74 loss per share (vs US$0.068 profit in 1Q 2021)

Eldorado Gold Corporation Reaffirms Production Guidance for the Year 2022

Eldorado Gold Corporation to Report Q1, 2022 Results on Apr 27, 2022

Eldorado Gold Corporation Provides New Results from Exploration Programs at the Lamaque, Efemcukuru and Kassandra Operations

Executive VP & CFO recently sold €476k worth of stock

Insider recently sold €86k worth of stock

Eldorado Gold Corporation, Annual General Meeting, Jun 09, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Eldorado Gold Corporation Provides Production Guidance for the First Half of 2022 and Full Year 2022

Eldorado Gold Corporation Provides Production Guidance for the Year 2022, 2023, 2024, 2025 and 2026

Eldorado Gold Corporation Provides Updated Mineral Reserve and Mineral Resource Estimates

Third quarter 2021 earnings released: EPS US$0.047 (vs US$0.27 in 3Q 2020)

Insider recently sold €64k worth of stock

Eldorado Gold Corporation Identifies New Mineralized Lenses at Ormaque; Multiple Styles of High-Grade Mineralization at Bonnefond; Kokarpinar Vein Extension Drilled at Efemcukuru

G Mining Ventures Corp. (TSXV:GMIN) entered into a definitive agreement to acquire Tocantinzinho Gold Project from Eldorado Gold Corporation (TSX:ELD).

Second quarter 2021 earnings released

Eldorado Gold Corporation Reaffirms Production Guidance for Fiscal 2021

Insider recently bought €395k worth of stock

Executive VP & General Counsel recently sold €145k worth of stock

President recently sold €1.1m worth of stock

First quarter 2021 earnings released

Eldorado Gold Corporation Receives Approval for Use of Dry Stack Tailings At Skouries

Eldorado Gold Corporation Provides Production Guidance for the Full Year of 2021

President recently sold €197k worth of stock