The company said Chief Executive Brad Gordon would resume direct responsibility over operations.
The move comes a month after Acacia Mining cut its full-year gold production forecast and increased its cost guidance.
"I am personally very disappointed in the operational performance in the third quarter," Gordon said in a statement on Oct. 6.
(Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Gopakumar Warrier)