Dominion Diamond Corporation Announces Appointment of New Directors and New Chairman Designate
YELLOWKNIFE, Northwest Territories--(BUSINESS WIRE)--Jan. 13, 2016--
Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or
“Dominion”) announces today that Mr. Jim Gowans has been appointed to
the Board of Directors of the Company (the “Board”). The Board intends
to appoint Mr. Gowans as the non-executive Chairman of the Board no
later than April 30, 2016.
Mr. Robert A. Gannicott, Chairman of the Board, commented that “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.”
Dominion also announces the appointment of Mr. Josef Vejvoda to the
Board, who was identified and proposed to Dominion by a group of
shareholders. In connection with these appointments, the Group has
entered into an agreement with Dominion which includes a customary
standstill on the part of the Group.
“We are very pleased to welcome Jim and Josef to the Board,” said Mr.
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.”
Jim Gowans – Mr. Gowans’ extensive operational experience and
familiarity with all aspects of the mining industry, coupled with his
informed perspective on corporate-social responsibility, makes him a
valuable addition to the Board. Mr. Gowans has extensive leadership
experience in the mining industry, both within Canada and
internationally. He has served in senior executive roles for a number
of major mining companies, and is a former Chair of the Mining
Association of Canada. Mr. Gowans is currently President, Chief
Executive Officer, and Director of Arizona Mining Inc., a Canadian
mineral exploration company. Before joining Arizona, Mr. Gowans was
Co-President of Barrick Gold Corporation from 2014 to 2015. He also
served as Barrick’s Executive Vice President and Chief Operating
Officer in 2014. From 2011 to 2014, Mr. Gowans was 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.
has extensive experience as a corporate director being appointed as a
Director of Cameco Corporation in 2009 and from 2008 to 2014, Mr.
Gowans served as a Director of PhosCan Chemical Corp.
Gowans is a Professional Engineer with a Bachelor of Applied Science
degree in Mining and Mineral Process Engineering from the University
of British Columbia.
Josef Vejvoda, ICD.D – Mr. Vejvoda brings valuable financial
expertise to the Board, including extensive experience with and
knowledge of Canadian capital markets. He has served as a Portfolio
Manager at K2 & Associates Investment Management Inc., a
multi-strategy investment fund, since 2013. From 2007 to 2010, Mr.
Vejvoda held leadership positions as Managing Director, Investment
Banking, and Director at MGI Securities Inc., a Canadian investment
dealer. Prior to assuming his roles at K2 and MGI, Mr. Vejvoda held
senior roles at a number of Canada’s largest financial institutions,
including Merrill Lynch Canada, Bank of Montreal, National Bank
Financial and TD Securities.
Mr. Vejvoda has extensive
experience and expertise in corporate governance serving as a Director
of Absolute Software Corporation, a security and data risk management
software company, and Director of Shortel Inc., a provider of Internet
Protocol telecommunications systems. In addition, Mr. Vejvoda was
recently appointed to the Board of Directors of Acerus Pharma, a
specialty pharmaceutical company. From 2013 to 2014, Mr. Vejvoda
served as a Director of PNI Digital Media Inc., an Internet
infrastructure company where he was Chair of a Special Committee that
oversaw the successful sale of PNI to Staples Inc.
Vejvoda obtained a Bachelor of Computer Science degree from Queen’s
University. He is a registered portfolio manager with the Ontario
Securities Commission and has earned the Chartered Investment Manager
designation from the Canadian Securities Institute. Mr. Vejvoda has
also graduated from the Institute of Corporate Directors.
About Dominion Diamond Corporation
Dominion Diamond Corporation is the world’s third largest producer of
rough diamonds by value. Both of its production assets are
located in the low political risk environment of the Northwest
Territories in Canada where the Company also has its head office. The
Company is well capitalized and has a strong balance sheet.
The Company operates the Ekati Diamond Mine through its 88.9%
ownership as well as a 65.3% ownership in the surrounding areas
containing additional reserves and resources, and also owns 40% of the
Diavik Diamond Mine. Between the two mining operations, diamonds
are currently produced from a number of separate kimberlite pipes
providing a diversity of diamond supply as well as reduced operational
risk. It supplies premium rough diamond assortments to the global
market through its sorting and selling operations in Canada, Belgium and
For more information, please visit www.ddcorp.ca
View source version on businesswire.com: http://www.businesswire.com/news/home/20160113006306/en/
Source: Dominion Diamond Corporation
Dominion Diamond Corporation
Mr. Richard Chetwode, +44 (0)
Vice President, Corporate Development
Kelley Stamm, (416) 205-4380
Manager, Investor Relations