BVN · Compañía de Minas Buenaventura S.A.A.

The appointments reflect strategic board governance adjustments and a planned leadership transition in sustainability—a function increasingly central to mining sector valuation and regulatory expectations. Roque Eduardo Benavides Ganoza’s elevation to Chairman reinforces continuity, given his longstanding directorship since March 30, 2026, and familial ties to the company’s founding. Shehzad Bharmal’s designation as Lead Director—while remaining independent—signals enhanced board-level coordination and oversight capacity, particularly relevant for ESG and risk governance. The retirement of Alejandro Hermoza Maraví concludes a 23-year tenure during which he shaped Buenaventura’s sustainability framework; his departure removes institutional knowledge but triggers no operational disruption, as the role transitions seamlessly to José Eduardo Malca La Fuente, who brings cross-functional expertise in legal, HR, and management development. Malca’s internal promotion suggests continuity in sustainability strategy rather than directional shift, though his background emphasizes governance and human capital over environmental technical specialization. No compensation terms, severance, or succession planning details were disclosed.