Business
Largo appoints Mr. Ernest M. Cleave to the position of Chief Financial Officer
Mr. John V. Laurie to retire Symbol : LGO (TSX.V) TORONTO , Sept. 3, 201...
About this update from Largo Inc.
[{"type":"text","content":"\n\n\nMr. John V. Laurie to retire\n\n\nSymbol: LGO (TSX.V)\n\n\nTORONTO, Sept. 3, 2013 /CNW/ - Largo Resources Ltd. (\"Largo\" or the \"Company\") is pleased to announce the appointment of Mr. Ernest M. Cleave to the\n position of Chief Financial Officer (\"CFO\").\n\n\nMr. Cleave is a financial professional with over 20 years' experience in\n finance strategy, compliance, financial reporting, internal control and\n strategic planning. Mr. Cleave has previously served as Director, CFO,\n Corporate Controller and in senior finance positions for large,\n multi-national companies in the mining, manufacturing and retail\n sectors, including GoldCorp Inc., Falconbridge Limited and Cline\n Mining.\n\n\nMr. Cleave holds Bachelor degrees of Accounting Science and Commerce and\n a Master's of Business from Deakin University in Australia. In addition\n to his CPA designation in Australia, Mr. Cleave holds multiple\n accounting designations in the U.K. and Canada.\n\n\nThe appointment of Mr. Cleave follows the retirement of Mr. John V.\n Laurie who has served as the Chief Financial Officer since February\n 2012. Mr. Laurie will remain as a financial consultant to the Company\n going forward.\n\n\nMark Brennan, the Company's President and Chief Executive Officer,\n stated: \"We are pleased to welcome Mr. Cleave to the team and believe\n that his past experience will prove very valuable as Largo evolves into\n a producing company in the near-term. On behalf of all the Largo team,\n I would like to sincerely thank Mr. Laurie for his hard work and\n significant contributions as Largo's CFO during the transition from a\n development to a production Company; an integral period in the\n Company's history. We are very sad to see him go and wish him the very\n best in his retirement.\"\n\n\nIn connection with his appointment, Mr. Cleave was granted 1,000,000\n options of the Company, which will expire in five years. The options\n will vest over three years with 1/4 of the options vesting on the date\n of grant and 1/4 of the options vesting on each of the first, second,\n and third anniversaries of the date of grant thereafter. The options\n will be priced as follows: a third at $0.22, a third at $0.24 and a\n third at $0.26. Mr. Andrew Hancharyk, the Chief Legal Officer of Largo,\n was also granted 1,000,000 options of the Company, on the same te...