Business
Gabriel Resources Ltd. - Chairman Succession and Appointment of New Director
Gabriel Resources Ltd. - Chairman Succession and Appointment of New Director.
About this update from Gabriel Resources Ltd.
[{"type":"text","content":"\n\n\n\n\nTSX Trading Symbol: GBU\n\nTORONTO, Feb. 15 /CNW/ - Gabriel Resources Ltd. is pleased to announce\nthe appointment of Michael Parrett to succeed Oyvind Hushovd as the Company's\nnon-executive Chairman. The appointment is effective immediately. Mr. Hushovd\nwill continue as a director until the next Annual General Meeting at which\ntime, due to relocating to his home in Norway, he will retire entirely from\nthe Company. The Board also announces, effective immediately, the appointment\nof Mr Keith R. Hulley to the Board of Directors. These changes would bring the\ntotal board to nine members, of which seven members are independent directors.\nThe Board would like to thank Mr. Hushovd for the leadership and guidance\nhe has provided to Gabriel over the past three years and wish him a long and\nenjoyable retirement. Mr. Hushovd was originally appointed a director of\nGabriel in November 2002 and assumed the role of Chairman and Chief Executive\nOfficer for a period of two years beginning in March 2003. Early in 2005 the\nCompany recruited Mr. Alan R. Hill to assume the duties of Chief Executive\nOfficer.\n\"I welcome the appointment of Michael Parrett as Gabriel's non-executive\nChairman,\" commented Mr. Hill. \"I have worked with Mike over the past eight\nmonths and I look forward to working closely with him as we continue the\ndevelopment of our Rosia Montana project. Mike brings to his new role a long\nhistory of working with senior international mining companies as both a\ndirector and a seasoned senior executive.\"\nMr. Parrett, a director of Gabriel since May 2003, has also served as the\nChairman of the Company's audit committee and member of the Governance\nCommittee. Mr. Parrett is currently a director of Fording Canadian Coal Trust\nand Pengrowth Corporation, and was formerly the President of Rio Algom\nLimited.\nMr Hulley currently is non-executive Chairman of Apex Silver Mines, after\nserving seven years successively as President, Chief Executive Officer and\nExecutive Chairman of that organization. Mr. Hulley has more than 40 years\nexperience in the mining business which includes, prior to joining Apex\nSilver, board and senior executive experience at Western Mining Holdings\nLimited and USMX Inc. He has also held senior executive management positions\nat Atlas Corporation, BP Minerals and Kennecott.\n\"We ar...