Endeavour Mining shares slump after gold miner fires CEO
Endeavour Mining shares (UK:EDV) fell 11% in London trade as the West African gold miner said it fired its CEO, Sébastien de Montessus, "for serious misconduct with immediate effect." The company said de Montessus made an irregular payment instruction, for $5.9 million, in relation to an asset disposal, and that there was a separate probe into his personal conduct with colleagues. Ian Cockerill, the deputy chair, was named CEO with immediate effect. In his own statement, de Montessus said the payment was for security equipment and that he did not personally benefit, though he acknowledged that he didn't inform the board. "This week I was given 48 hours' notice of the concerns and no proper opportunity to answer them. As to the other investigation: no misconduct of any kind was discovered because none occurred," he said.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
01-05-24 0640ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now