Great Panther Mining (TSX: GPR) this morning has seen some immediate management changes. The company has indicated that it has seen the departure of its chief executive officer with immediate effect.
The firm this morning announced that Rob Henderson, whom is the President, CEO, and a director of the company, has resigned from the company effective immediately. The departure is said to have been for personal reasons, with no additional details provided.
The departure follows a year in which the company saw declining production and higher costs due to poor performance at its Tucano mine. Further, the firm received an environmental infraction from the government, all while stability issues have resulted in production halts that are expected to last through 2022. The firm has also struggled at its Guanajuato mine complex, which was placed on care and maintenance while it awaits further permits to expand its tailings dam.
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Taking Henderson’s place on an interim basis is that of Alan Hair, the current chair of the board of directors of the company. The resignation apparently caught the board off guard, with a transition plan for a permanent CEO to be put in place in “due course.”
Henderson had served in the senior role since April 2020, have come to the firm from Amerigo Resources, whom is a copper producer in Chile. The departure follows that of the firms chairman, David Garofalo, whom resigned from the company in late December.
Great Panther Mining last traded at $0.285 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
