ISS backs Detour Gold board proposals in Paulson proxy fight: Reuters
Institutional Shareholder Services Inc (ISS) has advised shareholders to vote for Detour Gold Corp’s refreshed board of directors at an upcoming shareholders’ meeting, stopping short of more aggressive changes demanded by U.S. activist investor Paulson & Co, Reuters reported. Detour’s management has been resisting Paulson’s call for an overall of the board and immediate dismissal of interim CEO Michael Kenyon. Paulson, which has a stake of about 6 percent in the miner, said it did not believe ISS had gone far enough in its recommendation. Detour is under pressure from two other investors, Coast Capital Management LP and Livermore Partners, to overhaul its board and consider a sale.
3 December 2018•1 min read
