Toronto-listed Star Diamond on Wednesday announced that president and CEO Ken MacNeill will retire as an executive and director of the company with effect from December 31.
Chairperson Ewan Mason extended the board’s gratitude to MacNeill for his years of service and his perseverance in advancing the Fort à la Corne project, Saskatchewan, to the stage it is at.
“Ken has been steadfast in his belief that this project is one of the most promising diamond opportunities in the world. While much work remains to be done to advance this project, Ken has always worked tirelessly to further the interests of our company and all shareholders,” said Mason.
In order to ensure that the company retains continued access to MacNeill's knowledge and expertise regarding the Fort à la Corne project, Star Diamond has entered into a consulting agreement with MacNeill.
Rio Tinto Canada exercised its voting power in June this year to place the project on care and maintenance through December 31, 2022. At that time, Rio Tinto Canada also advised that, subject to fulfilling its existing obligations, it did not intend to commit additional capital to the project during 2022 beyond what is necessary for care and maintenance.
Star Diamond said that its board was assessing its executive needs in light of MacNeill's retirement at the end of 2022, and that it would announce his successor in due course.