RAPAPORT… Stuart Brown will leave his position at Mountain Province following a three-year stint as CEO.
Mountain Province and Brown reached “a mutual decision” that he would exit the company immediately, the Canada-based miner said Wednesday. Brown has also resigned as a director of the company, which owns 49% of the Gahcho Kué diamond mine. De Beers holds the remaining 51%.
Jonathan Comerford, who has been a director at Mountain Province since 2001 and its chairman since 2006, will take over as interim president and CEO until the miner can find a replacement for Brown. It hopes to hire a new head in the coming weeks.
Comerford previously assumed the role of interim president and CEO in 2018, following the departure of former chief Patrick Evans.
“I would like to thank Stuart for his strong and committed services as CEO…for the past three years,” said Comerford. “[He] has guided the company through difficult times for the diamond sector, including the very challenging Covid-19 pandemic. He leaves the company in a stronger position entering 2022.”
Brown will assist the company during the transitional period, it noted.
Image: Stuart Brown. (Mountain Province)
Mountain Province Parts Ways with CEO
The Bottom Line
- Stuart Brown resigns as CEO and director of Mountain Province after three years, effective immediately.
- Jonathan Comerford, chairman since 2006, assumes interim CEO role while the company searches for a permanent replacement.
- Mountain Province credits Brown with navigating the company through challenging market conditions, including the COVID-19 pandemic.
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