Jaguar Mining Inc. (JAG.TO: Quote, JAG) said Friday that its Chairman Gary German has stepped down from the position. The company has appointed Richard Falconer as the new Chairman.
Falconer is a member of Jaguar's board of directors. Prior to that, he worked at CIBC World Markets Inc., where he retired after 40 years of service as Vice Chairman and Managing Director. He is also currently serving as a Director for Resolute Forest Products, Chorus Aviation, Inc., the Bridgepoint Health Foundation and LOFT Community Services.
The company also noted that the six directors nominated by management were elected in the annual general meeting. However, the nominees Andrews, Clausen and German received more "withheld" votes than votes "for."
Despite Jaguar's majority voting policy not applying to contested director elections, following the meeting, Andrews, Clausen and German offered up their resignation from the Board of Directors.
Jaguar is continuing its active search for a permanent Chief Executive Officer, and expects to make an appointment during the third quarter. The interim CEO John Andrews will continue in the position until the new appointment is made.
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by RTT Staff Writer
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