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Endeavor Mining chief dismissed over $5.9 million 'irregular payment'
By Harry Dempsey
Financial Times, London
Friday, January 5, 2024
Endeavour Mining, one of the world's top gold producers, has fired boss Sébastien de Montessus for alleged "serious misconduct" after discovering an allegedly irregular multimillion-dollar payment instruction.
The FTSE 100 company said in a statement on Thursday that the dismissal of de Montessus as president and chief executive would take place "with immediate effect." It also said it had received separate allegations regarding his personal conduct with colleagues.
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De Montessus said in response that he was given "48 hours' notice of the concerns and no proper opportunity to answer them" and is taking his time with his advisers to consider his position.
The ousting came after the group, which operates four mines in West Africa, alleged it discovered an irregular payment of $5.9 million made on de Montessus' instructions in relation to an asset disposal. The board's investigation into the allegedly irregular payment is ongoing. ...
... For the remainder of the report:
https://www.ft.com/content/ede4ad77-4118-4055-954c-649be23313a7
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