Endeavour Mining Fires CEO for Serious Misconduct (1)

Endeavour Mining said it fired CEO Sébastien de Montessus for serious misconduct with immediate effect.

• This follows an investigation by the board into an irregular payment instruction issued by him in relation to an asset disposal undertaken by the company
• The amount of this irregular payment instruction is $5.9 million
• Board recently became aware of this in the course of a review of acquisitions and disposals, which is ongoing
• Montessus has been removed from the board with immediate effect
• Board appointed Deputy Chair Ian Cockerill as CEO with immediate effect
• Endeavour Mining is down about 8% in Toronto trading

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