{"id":1192308,"date":"2020-06-25T15:21:14","date_gmt":"2020-06-25T20:21:14","guid":{"rendered":"https:\/\/www.mining.com\/?p=1028042"},"modified":"2020-06-25T15:21:14","modified_gmt":"2020-06-25T20:21:14","slug":"stornoway-diamond-top-executives-to-step-down","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1192308","title":{"rendered":"Stornoway Diamond top executives to step down"},"content":{"rendered":"

Stornoway Diamond <\/strong>announced Thursday that Patrick Godin and Annie Torkia Lagac\u00e9 will be stepping down from their respective positions as president and CEO and EVP, finance and corporate services, effective Friday June 26.<\/p>\n

Godin will be succeeded by Patrick S\u00e9vigny, who joined Stornoway in 2015 and is currently vice president, operations. S\u00e9vigny will assume leadership as chief operating officer while Lagac\u00e9’s responsibilities will be redistributed within the organization, Stornoway said in the media statement.<\/a><\/p>\n

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In April 2019,\u00a0Stornoway\u00a0halted operations at\u00a0Renard, Quebec\u2019s first diamond mine, and Stornoway\u2019s primary asset<\/p>\n<\/blockquote>\n<\/figure>\n

In April 2019,\u00a0Stornoway\u00a0halted operations at\u00a0Renard<\/a>, which was Quebec\u2019s first diamond mine, and Stornoway\u2019s primary asset.\u00a0\u00a0<\/p>\n

In September 2019, Stornoway was granted protection under<\/a> the\u00a0Companies\u2019 Creditors Arrangement Act\u00a0<\/em>from the Superior Court of Quebec while the company restructured its business and financial affairs.<\/p>\n

In October 2019, Stornoway was delisted from the Toronto Stock Exchange after steep financial losses. The Canadian miner, originally co-founded by Eira Thomas, has been facing financial storms since late 2016<\/a>.<\/p>\n

The board of directors, in collaboration with shareholders, said it continues to work actively on streamlining the corporation and an eventual restart of Renard mine operations as the diamond market recovers, the company said.<\/p>\n

Stornoway had been exposed to the\u00a0low-quality\u00a0end of the market<\/a>, and those diamonds have\u00a0been selling for much less, due to an unforeseen oversupply.\u00a0\u00a0<\/p>\n

Hubert T. Lacroix, chairman of the Board said it was largely due to Godin\u2019s leadership that the construction of the Renard mine was completed ahead of schedule and under budget.<\/p>\n

Lacroix said Godin and Lagac\u00e9 will continue to support Stornoway’s current executive team to ensure a transition through the end of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

CEO Patrick Godin and EVP finance Annie Torkia Lagacé step down June 26.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2648,2849,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1192308"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1192308"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1192308\/revisions"}],"predecessor-version":[{"id":1192309,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1192308\/revisions\/1192309"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1192308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1192308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1192308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}