Friedland Loses Turquoise Hill Board Picks as He Cuts Stake
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Turquoise Hill Resources Ltd. said two board members backed by founder Robert Friedland won’t stand for re-election after his holdings in the developer of Mongolia’s biggest copper mine fell below 10 percent.
Livia Mahler and Peter Meredith won’t seek re-election at the annual meeting on May 10, Vancouver-based Turquoise Hill said in a statement yesterday. Friedland said his stake in the company, formerly known as Ivanhoe Mines Ltd., is now 8.4 percent.