Benchmark Metals Inc revealed that it had made some changes to the company’s board to allow for the addition of two new independent directors.
The Edmonton, Alberta-based gold and silver company said that co-founder and Chief Financial Officer Sean Mager and Qualified Person Michael Dufresne have resigned as directors to usher the appointments of two new independent directors — Keith Peck and Peter Gundy. Mager will continue as CFO at Benchmark, said the company.
Peck is Chair and CEO of Lincoln Peck Financial Inc, a financial advisory firm focused on the resources sector, and a Chartered Business Valuator with over 35 years of investment banking experience, including as VP and director of RBC Dominion Securities Inc, Haywood Securities and vice-chair of Yorkton Securities Inc.
In addition, Peck has public company experience in Camino Minerals Corp and was a founder of Centenario Copper Corp, which was acquired by Quadra Mining Limited in 2009.
Meanwhile, Gundy was a co-founder of Potash Corporation of Saskatchewan (a predecessor to Nutrien) and the founder of Neo Material Technologies Inc (NEM), serving as NEM CEO from 1992 to 2008. NEM became a global leader in the production of advanced rare earth metals also used in the electronics industries and automotive sectors. In 2012, NEM was sold to Molycorp for $1.1 billion.
Benchmark noted that Gundy has served as a director with numerous publicly-traded companies, and currently serves on the board of Andean Precious Metals, where he is chair of both its audit committee and nomination and corporate governance committee.
Benchmark has appointed Peck as the independent Lead Director of the Board. John Williamson will remain as executive Chairman and CEO. As Lead Director, Peck will provide leadership to the board and facilitate the functioning of the board independently of management, while working with the executive chairman.
Benchmark has also reconstituted its Audit Committee to be comprised solely of independent directors. Gundy has been appointed the Chair of the Audit Committee. The reconstituted board has also resolved to form an independent Governance, Nominating and Compensation Committee.
In a statement, Benchmark CEO and Chairman John Williamson said: "We are very pleased to welcome Keith and Peter to Benchmark's board. As seasoned veterans with proven track records in the resources sector…We are confident these changes and governance enhancements will complement the existing board structures.”
“I'd also like to thank Michael and Sean for their past board service."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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