Mr. Thibeault will replace Chris Bateman, who will be leaving the company to pursue other opportunities. Mr. Bateman and Mr. Thibeault are working together to ensure a smooth transition.

Kay Priestly, Turquoise Hill Chief Executive Officer, said, "Since his appointment in May 2012, Chris has successfully led Turquoise Hill’s financial strategy. I want to thank Chris for his leadership and significant contributions during his tenure as Chief Financial Officer.

"Steeve is an accomplished financial leader in the mining sector and he brings a wealth of experience to Turquoise Hill. He will make a strong addition to our management team and I look forward to his contribution."

Mr. Thibeault brings more than 30 years of extensive financial and corporate experience to Turquoise Hill. Most recently, he was Chief Financial Officer of Australian Stock Exchange-listed Energy Resources of Australia.

Prior to that role, Mr. Thibeault held various mining and manufacturing roles with Rio Tinto Alcan and Alcan Aluminium Limited.