IAG - Iamgold shareholder RCF reach deal for three new board members

Iamgold (NYSE:IAG) +1.4% pre-market after reaching an agreement with activist shareholder RCF Management on changes to the company's board, including the replacement of three members. RCF board nominee Maryse Bélanger has been appointed Chair, effective immediately; she was President, COO and Director of Atlantic Gold during 2016-19. Bélanger, RCF nominee David Smith and Ian Ashby will join the Iamgold board; Smith was CFO of Ballard Power Systems during 2002-09, and Ashby served as President of Iron Ore for BHP Billiton during 2006-12. Resource Capital Fund VII, which is managed by RCF Management, owns 5.2% of Iamgold shares. The board changes follow the recent departure of CEO Gordon Stothart and the retirement of Chairman Don Charter.

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Iamgold, shareholder RCF reach deal for three new board members