Endeavour Mining fires CEO de Montessus for 'serious misconduct'

(Sharecast News) - Endeavour Mining announced after the close of markets on Thursday that president and chief executive Sebastien de Montessus has been dismissed with immediate effect for "serious misconduct". The sacking follows an investigation by the board into "an irregular payment instruction issued by him in relation to an asset disposal undertaken by the company".

The amount of the payment instruction is $5.9m and Endeavour said the board recently became aware of it in the course of a review of acquisitions and disposals, which is ongoing.

In October 2023, allegations were made against de Montessus about his personal conduct with colleagues through the company's confidential whistleblowing channel.

"Following a recent external investigation, the board had received the findings and, at the point of termination, was considering the appropriate course of action," Endeavour said.

It has appointed Ian Cockerill - currently deputy chair of the board - as CEO and executive director with immediate effect.

It noted that Cockerill has more than four decades of experience in the global natural resources industry. He has held senior roles covering operational, project and executive positions around the world, having held executive roles at major international mining companies, including CEO of Gold Fields and Anglo Coal, a subsidiary of Anglo American, as well as non-executive positions.