Detour Gold names Paulson-backed Bill Williams as interim CEO

Orvana Minerals

03/01/2019 14:46

Jan 3 (Reuters) - Detour Gold  DGC.TO  said on Thursday it
has picked Paulson & Co-backed nominee Bill Williams to be its
interim chief executive officer, replacing Michael Kenyon.
    The Canadian gold miner was previously involved in a
months-long proxy fight with billionaire John Paulson's hedge
fund, which pushed for a complete overhaul of the board and
Kenyon's resignation.
    Williams is a mining industry veteran and was a former CEO
of gold and copper miner Orvana Minerals Corp  ORV.TO . 
    He was one of five members elected to the Detour Gold board
at a special shareholders meeting held on Dec. 13. These
nominees were backed by Paulson, which alleged that under the
leadership of Kenyon the company had "unsuccessfully tried to
boost short-term performance". urn:newsml:reuters.com:*:nL3N1YI4FY
    Shares of the company were up 1.5 percent at C$11.93 in
early trade.
    
    

 (Reporting by Shanti S Nair in Bengaluru; Editing by Shinjini
Ganguli)
 ((ShantiS.Nair@thomsonreuters.com; +1 646 223 8780 Ext: 1524;
Reuters Messaging: shantis.nair.thomsonreuters.com@reuters.net))