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Formation Metals Inc. (TSX:FCO) announced that the roles of Chairman and CEO have been separated, pursuant to an initial recommendation of the Compensation, Nomination and Corporate Governance Committee of the Board, which was previously charged with undertaking a comprehensive review of Formation’s corporate governance practices.
As quoted in the press release:
Mr. Robert Quinn, previously Lead Director, has been appointed Chairman of the Board of Directors of Formation and Mari-Ann Green will continue in her role as director and Chief Executive Officer. The purpose of the governance review, which is ongoing, is to identify and recommend to the full Board specific governance enhancing initiatives. The Compensation, Nomination and Corporate Governance Committee is comprised entirely of independent directors.
Formation Metals CEO Mari-Ann Green said:
Formation has always been committed to the highest standards of integrity and business conduct. In our industry, and particularly in these challenging times, our governance practices provide the framework within which we execute our corporate strategy while retaining the flexibility and expertise to capitalize on new opportunities. We look forward to Mr. Quinn’s contributions and to further enhancing and rejuvenating our governance practices.
Click here to read the Formation Metals Inc. (TSX:FCO) press release
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