03:47:39 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Endeavour Mining PLC
Symbol EDV
Shares Issued 247,739,889
Close 2024-01-05 C$ 26.40
Market Cap C$ 6,540,333,070
Recent Sedar Documents

Globe says fired Endeavour CEO had checkered history

2024-01-08 09:00 ET - In the News

The Globe and Mail reports in its Saturday edition that ousted Endeavour Mining chief executive officer Sebastien de Montessus had a history of going behind the backs of his superiors. The Globe's Niall McGee writes that Endeavour on Thursday said it terminated Mr. de Montessus after accusing him of "serious misconduct" related to a payment he authorized without the board's knowledge. He admitted he authorized a payment of $5.9-million (U.S.) to a creditor in exchange for security services without getting permission from the board, and called it a "lapse in judgment." The Globe asked Endeavour why it had hired Mr. de Montessus, and why it continued to employ him amid a continuing investigation in France. In response, the company cited a public filing it made three years ago that addressed the matter. In 2021, Endeavour admitted that the continuing probe in France into Mr. de Montessus could hurt the company's reputation, and damage its share price. Nevertheless, Endeavour determined that Mr. de Montessus was still fit to perform his duties as CEO. Endeavour on Thursday also accused Mr. de Montessus of engaging in personal misconduct with colleagues, but said that was not a factor in his termination.

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