How will Jorge Gomez's debut in the executive presidency of Codelco be

Jorge Gómez's transition into the role of Chief Executive Officer (CEO) of Codelco has been meticulously planned, with each step carefully orchestrated to ensure a smooth arrival and integration into his new position. Beginning on Monday, July 13, Gómez’s day started precisely at 8:30 AM when an official vehicle arrived at his home to pick him up. By 9:00 AM, he was expected to reach Codelco’s corporate headquarters located at Huérfanos 1270, where he would be greeted by Mary Carmen Llano, the Vice President of Human Resources, and Hernán Sepúlveda, the General Secretary of the Board of Directors. From there, Gómez was scheduled to proceed to the 11th floor, where his office is situated alongside that of Bernardo Fontaine, the Chairman of the Board. Fontaine was set to greet Gómez and introduce him to his new workspace. Following this brief introduction, they were expected to hold a private meeting lasting approximately 45 minutes. This session was intended to lay the groundwork for their collaboration, after which they would move to an adjacent room to meet with the company’s senior executives for Gómez’s formal introduction. During this meeting, Gómez was anticipated to deliver a short speech outlining his leadership style, priorities, and a broad overview of the company’s strategic vision for the coming years. The presentation was designed to align expectations and establish a clear direction for Codelco moving forward. After this session, which was expected to conclude around noon, Gómez would begin visiting various departments within the corporate tower to greet employees and familiarize himself with the organization’s structure and culture. Following these initial meetings, Gómez entered the induction process, which included safety training and digital onboarding. This phase involved setting up his computer and mobile phone with personalized configurations so that he could officially start working later that afternoon. On his desk, several folders awaited him, including reports and analyses prepared since Bernardo Fontaine took over as chairman on May 27. These documents focused on the preparation of a four-year corporate strategic plan that Gómez will develop alongside Fontaine and the three board committees: Projects and Investment Financing, Management and Sustainability. Gómez and Fontaine have already had multiple discussions before Gómez was appointed CEO. According to insiders, they share a common understanding about the requirements for managing Codelco effectively, emphasizing profitability and safety. Two reports were prepared for Gómez upon his arrival. One highlighted known figures such as declining production levels, reduced operational cash flows, and increased debt during the 2022–2025 period compared to 2018–2021, despite a 30% increase in copper prices. This comparison subtly criticized the previous management under Máximo Pacheco. It also noted that most of the excess funds transferred to the state came primarily from debt, with nearly $7 billion sent to the government while Codelco incurred $8 billion in debt during this time. This analysis suggests a need for a detailed review of the company’s business portfolio, expenses, and investments. The second report compared Codelco with major private mining companies regarding production, direct and total costs, projects, and debt. The findings revealed significant gaps, particularly in production costs and project execution. While the strategic plan includes elements that have already been established—such as deepening public-private partnerships initiated by Pacheco—there are currently no plans to privatize parts or all of Codelco or to sell assets generating positive cash flow, such as the 10% stake in Quebrada Blanca or the 49% interest in El Abra. In the following days, Gómez will undergo personalized induction sessions by department and division, ensuring he gains a comprehensive understanding of each area. As he begins his tenure, the focus remains on developing a robust strategic plan that addresses current challenges and sets a clear path for future growth.