Endeavour Mining Says Fired CEO to Lose $29.1 Million in Pay (1)

Endeavour Mining Plc is stripping its former Chief Executive Officer Sébastien de Montessus of $29.1 million in renumeration after he was fired earlier this month for “serious misconduct.”

The London-based gold miner said in a statement Thursday that de Montessus forfeits $17.6 million, which includes a $2 million annual bonus for last year and $15.6 million in unvested share awards. Endeavour Mining is also clawing back $10 million for a one-off award granted in 2021 and $1.5 million cash bonus for 2022, the company said.

Endeavour fired de Montessus earlier this month, citing serious misconduct over an alleged irregular payment ...