Dominion Appoints Two New Directors; Jim Gowans Is Chairman Designate

Jan 14, 2016

Dominion Diamond Corporation, the Company beleaguered with dissension from a group of stockholders, yesterday announced the appointment of two new directors – Jim Gowans and Josef Vejvoda – to the Board of Directors of the Company.

The Company said, further, that the Board “intends to appoint Gowans as the non-executive Chairman of the Board no later than April 30, 2016”.

Gowans is currently President, Chief Executive Officer, and Director of Arizona Mining Inc., a Canadian mineral exploration company and has a vast experience in the mining industry. Gowans has earlier served as Managing Director of the Debswana Diamond Company in Botswana. From 2006 to 2010, he served as the CEO of DeBeers Canada Inc., and also acted as COO and Chief Technical Officer for DeBeers SA in 2010.

Robert A. Gannicott, Chairman of the Dominion Board, commented: “Both the Company and I have faced certain changes recently. For the Company, these represent opportunities but in my case they represent medical challenges. I have known Jim throughout his career, especially the parts relating to northern mine development and, later, the diamond industry. It is with great confidence that I anticipate handing over the chairmanship to Jim in the near future.”

It is understood that the appointment of Vejvoda was proposed to Dominion by the Group of shareholders which has been questioning its management and calling for changes. This Group is reported to be led by K2 & Associates Investment Management, where Vejvoda holds the position of portfolio manager since 2013.

The Group has entered into an agreement with Dominion, the Company said “which includes a customary standstill on the part of the Group” with these appointments.

“We are very pleased to welcome Jim and Josef to the Board,” said Daniel Jarvis, Lead Independent Director of the Board. “These appointments fill the two casual vacancies on the Board, and the experience and expertise of these two individuals will make a very positive contribution to the governance of the Company. In addition to these appointments, the Board will continue its existing search process to identify an additional independent director who can join the Board.”

Latest news

videos on the Indian industry :

India Your First Choice
India – Where Diamonds Come Alive!
Jewellers for Hope

Upcoming Events