Deals
Paulson Wins Control of Detour Board in Key Shareholder Vote
- Miner’s interim CEO Kenyon has resigned; Gowans to be chairman
- Result opens company to ‘strategic alternatives’: TD’s Earle
Photographer: Scott Eells/Bloomberg
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Paulson & Co. has convinced shareholders of Detour Gold Corp. to overthrow the bulk of the Canadian miner’s board of directors, including its interim CEO, ending a nasty six-month proxy battle.
Five of the Paulson-backed nominees were chosen, while Detour Chairman Alex Morrison and interim Chief Executive Officer Michael Kenyon were removed from the board during a special shareholders’ meeting Thursday in Toronto, the miner said in a statement, confirming an earlier report by Bloomberg.