Detour Gold agrees to two Paulson nominees for its board: Reuters

Detour Gold Corp has agreed to name two of investor Paulson & Co’s nominees to its board as it looks to end a proxy fight with the U.S. hedge fund that had called for a complete overhaul of the board, Reuters reported. The Canadian gold miner also said its interim CEO would step down as a director. Paulson & Co, which has a 5 percent stake, had also called for the company to explore strategic alternatives, including a sale. Detour has been under attack by other shareholders as well, including U.S. hedge fund Livermore Partners and U.S. investment company Coast Capital Management LP, which have asked for a sale of the company and a rejig of its board.

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