Endeavour Appoints Srinivasan Venkatakrishnan as Chair and Ian Cockerill as Senior Independent Director
Endeavour Mining plc has appointed Srinivasan Venkatakrishnan as Chair and Ian Cockerill as Senior Independent Director, effective May 24, 2022. Venkat succeeds Michael Beckett, who is retiring after 12 years. These appointments reflect Endeavour's commitment to high corporate governance standards, aligning with the UK Corporate Governance Code. Venkat, an industry veteran with over 30 years of experience, aims to build on the company's success, while Cockerill brings extensive operational experience from his previous roles in major mining firms.
- Appointment of Srinivasan Venkatakrishnan expected to bring fresh perspectives and industry expertise.
- Ian Cockerill's return adds significant operational experience, potentially enhancing board effectiveness.
- Change in leadership may raise concerns regarding continuity and strategic alignment.
ENDEAVOUR APPOINTS SRINIVASAN VENKATAKRISHNAN AS CHAIR AND IAN COCKERILL AS SENIOR INDEPENDENT DIRECTOR
London, 16 March 2022 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Company”) is pleased to announce the appointment of Srinivasan Venkatakrishnan (“Venkat”) as an Independent Non-Executive Director and Chair of the Board and Ian Cockerill as the Senior Independent Non-Executive Director (“SID”). Both appointments are effective 24 May 2022.
These changes underscore Endeavour’s commitment to pursue the highest standards of corporate governance and alignment with the UK Corporate Governance Code, following its listing on the premium segment of the London Stock Exchange in June 2021. Venkat succeeds Michael Beckett who is retiring from the Board after 12 years as Chair. Ian Cockerill rejoins the Endeavour Board as the SID, having served as a Non-Executive Director between September 2013 and March 2019.
Michael Beckett, outgoing Chair, said: “It has been a privilege to lead the Board of Endeavour through a period of significant growth. I am proud of everything the team has achieved in recent years, which has resulted in Endeavour’s transformation into a leading global gold producer and the largest in West Africa. As Endeavour joins the FTSE100 Index, I am pleased that the Company has been able to attract such high calibre candidates in Venkat and Ian to support the Board and management as the business continues to grow and deliver value for all our stakeholders.
I am delighted to welcome Venkat as my successor. He brings outstanding experience in all aspects of the industry, and I am confident he has the expertise and skills to successfully lead the Board. I am also pleased to welcome Ian back to the Board, where he will bring his considerable experience with FTSE100 companies and highly valuable technical knowledge to bear.”
Srinivasan Venkatakrishnan, Chair Elect, said: “It is a great honour to take on the role of Chair of Endeavour, a company I’ve admired for some time. Endeavour has built a resilient business with a high-quality portfolio in one of the most attractive gold producing regions of the world. I look forward to playing my part in building on Michael’s considerable achievements and working with the Board in supporting Sebastien and his team as they continue to pursue the Company’s successful strategy.”
ABOUT SRINIVASAN VENKATAKRISHNAN
Venkat has over 30 years of experience across the natural resources sector in finance, strategy, restructuring, senior executive and board leadership positions. During this time, his career has spanned across six continents, 15 countries and several metals, notably gold.
Venkat was the CEO of the global gold producer, AngloGold Ashanti Limited from 2013 to 2018, and was the Group CEO of the diversified natural resources group Vedanta Resources Limited from 2018 to 2020. He has successfully brought new projects into production, driven portfolio rationalisation, improved productivity and delivered growth and M&A. During his leadership, overall safety and sustainability trends in these companies improved whilst they demonstrated sharpened focus on improving sustainable free cash flow and returns.
Venkat is an Independent Non-Executive Director of BlackRock World Mining Trust plc and Weir Group plc. Venkat is currently a Non-Executive Director of Roscan Gold Corporation (“Roscan"), a TSXV-listed Canadian junior gold exploration company. He will not stand for re-election at the forthcoming Roscan AGM in April 2022, and will move to an advisory role for an agreed period to assist with a smooth transition.
He is a qualified Chartered Accountant and holds a commerce degree. He has been a member of the Financial Review Investigation Panel of the Johannesburg Stock Exchange and represented member companies on the Boards of various industry bodies, including the World Gold Council, International Council on Mining and Metals and the South African Chamber of Mines.
ABOUT IAN COCKERILL
Ian Cockerill rejoins the Endeavour Board as the SID, having served as a Non-Executive Director between September 2013 and March 2019. Ian has over 45 years of experience in the global natural resources industry. He has extensive operational, project and leadership experience, having held executive roles at major international mining companies, including Chief Executive Officer of Gold Fields and Anglo Coal, a subsidiary of Anglo American, and non-executive positions.
Ian is a Non-Executive Director of BHP Group, a Non-Executive Director of I-Pulse Inc, a Director of the Leadership for Conservation in Africa (a not-for-profit organisation), and is the Chair of Conservation 360, a Botswanan conservation NGO dealing with anti-poaching initiatives. He was the former Chair of BlackRock World Mining Trust plc and Polymetal International plc, the former Lead Independent Director of Ivanhoe Mines Ltd and former Director of Orica Limited. He also became a member of the La Mancha Advisory Committee in July 2021 and will step down prior to taking up his position as the SID to maintain his independent status.
Ian holds a BSc (Hons) degree in Geology from London University, an MSc in Mineral Production Management from the Royal School of Mines, at Imperial College and participated in the Advanced Management Programme at Templeton College Oxford.
CONTACT INFORMATION
| Martino De Ciccio VP – Strategy & Investor Relations +44 203 640 8665 mdeciccio@endeavourmining.com | Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 ccable@brunswickgroup.com |
| Vincic Advisors in Toronto John Vincic, Principal +1 647 402 6375 john@vincicadvisors.com |
ABOUT ENDEAVOUR MINING PLC
Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates.
Endeavour is listed on the London and the Toronto Stock Exchanges, under the symbol EDV.
For more information, please visit www.endeavourmining.com.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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