With a delisting from the New York Stock Exchange looming, and no publicly available plan for correcting the listing deficiency, it appears that McEwen Mining (TSX: MUX) is now seeing members of management exit stage left. The firm this morning indicated that two executives of the company have tendered their resignation.
Chief financial officer Anna Ladd-Kruger this morning announced her retirement from the company to focus on health and family. She first joined the company in September of 2020, having come to the company from Excellon Resources (TSX: EXN), where she previously served as CFO and currently still sits as a director.
Prior to the announcement of her departure, Ladd-kruger earlier this year indicated she was taking a leave of absence for health reasons. While an official date for her departure was not provided, it was indicated should will leave the role after “first quarter reporting is complete and an orderly transition is in place.”
Replacing Ladd-Kruger is that of Perry Y. Ing, whom will be taking on the role on an interim basis. Ing previously served as CFO for the company from 2008 through to 2015.
Also exiting the company is that of chief operating officer Peter Mah. Mah is said to be leaving the company for personal reasons, with his departure set for June 3. Mah’s role is to be filled on an interim basis by William Shaver, whom is presently a director of the company.
Searches for replacements for the two roles are reportedly ongoing. At the same time, the company is said to be focused on “stabilizing its operations after a challenging period.” The company is reportedly in the process of potentially divesting assets as a means of turning its operations around.
McEwen Mining last traded at $0.84 on the TSX.
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