Business Spectator – A group of three former Equigold executives have successfully staged a boardroom coup, replacing the board of Regis Resources in a requisitioned meeting held in Melbourne earlier today.
Mark Clark, Equigold’s former managing director, Nick Giorgetta, the former chairman of Equigold, and Morgan Hart were each elected to the board by an overwhelming 89 per cent of shareholders, including Newmont Corporation. Former Newmont Australia chief executive Paul Dowd, was on the Regis board, but stepped down before the vote went ahead.
Former ASIC chairman Jeff Lucy was another Regis director who stepped down before the vote was held, leaving the company’s founder David Walker as the only man standing to defend the outgoing management’s efforts to take the company from gold explorer to developer to producer.
