Well that didn’t last long. The Wall St Journal reports that just two days after Richard Hall became Northgate Minerals’ president and CEO, it was announced today that his days are numbered in those posts.
Northgate this morning announced an agreement to buy fellow smaller Canadian-based gold miner Primero in a stock deal valued at about $380 million. Primero’s president and CEO, Joe Conway, will run the combined company’s day-to-day operations.
There’s no mention in today’s news release about Hall beyond him being a director on the post-merger board. Former CEO Ken Stowe retired after a 10-year run atop Northgate Minerals. Even by today’s standard of ever-increasing CEO turnover, Hall’s apparent blink-and-he’s-gone tenure is certainly notable….
Read more http://blogs.wsj.com/deals/2011/07/13/from-congrats-to-youre-fired-in-2-days/
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