Stibnite overhauls board, appoints new CEO in agreement with Paulson
Toronto-listed Midas Gold has appointed Laurel Sayer as president and CEO, succeeding Stephen Quin, who has resigned as part of a board and management shakeup.
Sayer is currently president and CEO of the company’s subsidiary, Midas Gold Idaho.
Midas also announced the transition of five members of its current board to five new, independent directors, who would assist the company in moving the Stibnite gold project, in Idaho, through the remaining phase of permitting under the National Environmental Policy Act and into construction and operations.
The changes form part of a transition agreement between Midas and shareholder Paulson & Co, which has been calling for a refreshing of the board to have more US, and specifically Idaho-based, directors.
The transition agreement results in the resignation from the board of Keith Allred, Jaimie Donovan, Brad Doores, Jon Goode, and Peter Nixon, effective December 4.
In their roles as the remaining two directors of the company, Marcelo Kim and Chris Papagianis appointed the following five independent directors to fill board vacancies: Bob Dean, David Deisley, Jeff Malmen, Chris Robison and Alex Sternhell. Sayer has also been appointed a director of the company.
If developed, Stibnite would be a $1-billion construction investment, providing 500 direct jobs.
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