A management shakeup appears to be underway at New Found Gold (TSXV: NFG). The firm this morning announced the resignation of CEO Craig Roberts, under what is being referred to as a planned transition.
Taking on the role of chief executive officer on a go-forward basis will be that of Collin Kettell, whom is founder and executive chairman of the company, and also the founder and executive chairman of Palisades Goldcorp. The leadership transition has reportedly been years in the making, as per Kettell’s commentary.
“When I asked Craig to join as CEO in early 2020, he committed to this role for several years with the intention that I would transition into the CEO role over this time frame. We both agree that the time is now right for this transition.”
Sponsored · Mercado Minerals Ltd.
As part of the transition, Roberts has also resigned from his role as a director of the company. Going forward, he will take the title of Lead Advisor, and will continue as a full-time consultant for the company.
Filling the now-vacated director position will be that of Vijay Mehta, whom is a co-founder of Arkview Capital. He comes to the board heavily experienced in private equity, with his experience having an emphasis on the energy and industrial sectors.
The development follows the news earlier this week that billionaire mining investor Eric Sprott has upped his stake in the company to 31.4%, following a transaction he facilitated to acquire the entire stake previously owned by Novo Resources (TSX: NVO).
New Found Gold last traded at $8.92 on the TSX Venture.
The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
