TSX-listed Detour Gold has appointed three new directors in a move to augment its board’s experience and expertise in large-scale openpit mining ahead of a December 11 shareholders meeting to vote on a replacement of the company’s board.
The new board members include Alan Edwards, a former Kinross Gold executive and former chairperson of AuRico Gold, as well as James Gowans, who is a past co-president of Barrick Gold and until its recent takeover by South32, the CEO of Aurizona Mining.
Strategic communications and engagement specialist Judy Kirk has also been appointed to the board to strengthen the company’s relations with First Nations.
To accommodate these additions, Ingrid Hibbard and Robert Doyle have stepped down from the board.
Chairperson Alex Morrison said that the latest board additions demonstrated the company’s commitment to execute its strategy for the Detour Lake mine – the largest gold mining operation in Canada.
“These changes to the board, coupled with the initiatives of Frazer Bourchier as COO and additional talent upgrades at the mine site, further enhance our ability to ensure that the Detour Lake mine becomes a consistently performing operation," Morrison said on Wednesday.
Earlier this week, shareholder Paulson & Co slammed the gold miner for delaying a meeting to replace the board. The hedge fund, controlled by billionaire John Paulson, has nominated eight directors that it wants to serve on the board and has called for a shareholders meeting to be held no later than September 28.
Paulson wants a new board to explore alternatives, including a potential sale.
The current board, however, is intent on executing its strategy for the Detour Lake mine and is critical of Paulson’s push for an “ill-timed fire sale”, claiming it would only benefit the billionaire and not shareholders.
Meanwhile, Detour also announced that it had expanded the skills and expertise at the mine site with the appointment of Dale Ekmark as VP mine general manager. Ekmark served as CEO and chairperson of OKD in the Czech Republic, where he oversaw the operation of four coal mines with over 12 000 employees.