COEUR d'ALENE - Coeur d'Alene Mines Corp. announced Friday that Dennis E. Wheeler resigned from the company as president, chief executive officer and chairman of the board of directors.

Wheeler, who served as CEO for nearly 25 years and a director for 33 years, stepped down on July 11. Because of his experience and knowledge of the company, Wheeler will continue to serve the company as a consultant for a year in order to facilitate a smooth transition.

To succeed Wheeler, Coeur also announced that Mitchell J. Krebs has been appointed as president and CEO of the company.

The board also elected Krebs as a director and Robert E. Mellor as non-executive chairman of the board.

The company said the appointments follow an exhaustive internal and external search conducted by the board as part of the company's succession planning.

Mellor said Krebs is a proven and respected member of the company's senior management team.

Mellor said, "Mitch has been instrumental in Coeur's growth and re-positioning over the past several years. He has demonstrated leadership in value-enhancing initiatives during his 16 years at Coeur."

Krebs' work included leading a significant reduction in short- and long-term debt, restructuring of the balance sheet and financings to facilitate the construction of Coeur's platform of new silver and gold mines, Mellor said.

"(Krebs') comprehensive understanding of Coeur's operations and a competitive industry makes him uniquely qualified to take Coeur to the next level," Mellor said.

Mellor said, "(Wheeler's) stellar career built our company from a small Idaho silver producer through the challenging period of low silver prices in the 1980s and 1990s to the largest U.S.-based primary silver producer with three new silver and gold mines, which are generating record production, revenues and cash flow."

Wheeler also has been a leading spokesman and advocate for the mining industry, a director of the National Mining Association and the World Gold Council and former president of the Silver Institute, Mellor said.

Krebs was previously the company's senior vice president and chief financial officer, and will continue to serve as CFO.

During his tenure with Coeur, Krebs has held various positions in the corporate development department, including senior vice president of corporate development.

Since March 2008, Krebs has held the position of CFO and also has been responsible for the company's corporate development and investor relations activities.

As CFO, Krebs led debt reduction activities and more than $1 billion in capital financings to fund the construction of the three mines.

He also facilitated more than $1.3 billion of acquisitions and divestitures during his time at Coeur.

He joined Coeur in 1995 after spending several years in the investment banking industry in New York. Krebs holds a bachelor's degree in economics from the Wharton School at the University of Pennsylvania and a master's degree in business from Harvard University.

Mellor previously was the independent lead director for the company and serves on the executive and compensation committees and is the chairman of the nominating and governance committee.

Mellor has served as a director of Coeur since 1998. He is the retired chairman, CEO and president of Building Materials Holding Corp.

He is a longtime director of the Ryland Group Inc. and Monro Muffler Brake Inc.

With Krebs continuing as CFO, Elizabeth M. Druffel continues as chief accountant and, upon Krebs' appointment to CEO, became the company's principal accounting officer.