Glass Lewis recommends Detour Gold chairman's removal: Reuters
Glass Lewis & Co has recommended voting against the reappointment of Detour Gold Corp Chairman Alex Morrison and one more member, while adding an additional nominee from Paulson & Co, instead of a board overhaul pushed by the U.S. activist investment firm, Reuters reported. “We ultimately see validity in Paulson’s central thesis that, for substantive change to take hold at the company, certain of the core and long-term directors who have presided over value destruction and overseen technical failures of prior mine plans need to be replaced,” Glass Lewis said. Paulson has about 6 percent stake in Detour. The company is under pressure from two other investors to overhaul its board and consider a sale.
5 December 2018•2 mins read
