Loading ...Board of Canadian miner Iamgold Corp, as it looks to change the leadership of the company that it says has been underperforming.
Comment: I read a lot of it, it sounds like big investors in the company are taking over, and reaming out the established board. I have a position on this one, and it certainly was going nowhere with higher gold prices.
Letter To Board Of Directors:
part:
“Our nominees are independent and accomplished world-class directors who bring vast mining experience and knowledge,” said Martin Valdes, Partner, Head of Resource Capital Fund VII L.P. “They also share a common and very achievable goal: to create a much-needed culture of operational excellence, integrity and accountability at IAMGOLD, which is essential if IAMGOLD is to reach its full potential.”
With the right leadership on the Board, which will include Maryse Belanger as our candidate for Chair, we believe IAMGOLD can be turned around. RCF’s nominees, if elected, will help lead the selection of a new and transformational Chief Executive Officer with meaningful and real operational mining expertise and credibility. We urge the Board to refrain from taking any actions at this time under the guise of the strategic review or in furtherance of the appointment of a new Chair or new Chief Executive Officer and to heed the views of its shareholders before making any key decisions on the future leadership of IAMGOLD.
We have lost all faith in the current Board during the past two weeks of our engagement. Our attempts to reach a cooperative framework have been met with a pattern of disingenuous interactions. We no longer trust the current Board to make any material decisions on IAMGOLD’s future leadership that reflect the best interests of its shareholders.