LONDON Mehmet Dalman has
resigned as chairman of Eurasian Natural Resources Corp. (ENRC)
and has been replaced by Gerhard Ammann, the company said April
Dalman, who had earlier said he
was "committed to (his) role as chairman," was originally taken
on with the remit of improving corporate governance and was
heading an investigation into allegations of fraud at the
"I believe I have achieved all
that I can as chairman of ENRC and it is therefore appropriate
to hand over the reins to new leadership," Dalman said.
The resignation came in the wake
of a raft of departures at the Kazakhstan-based miner,
including chief commercial officer Jim Cochrane (
amm.com, April 12).
Ammann, who will also take on
the executive responsibilities held by Dalman, had been an
independent non-executive director at the company for more than
five years and was chairman of the investment committee.
Before joining the ENRC board,
he was chairman and chief executive officer of Deloitte Touche
Tohmatsu Ltd. in Switzerland and had more than 30 years
experience as an auditor of international companies.
Dalman "oversaw all of the
groups acquisitions as chairman of the mergers and
acquisitions committee," Ammann said in a statement. "His
initiatives to improve corporate governance have established a
foundation on which we can build in the weeks and months
Ammann added that he had a
"clear mandate from the board" and that his role will be to
work with stakeholders to "draw a line under the past."
His appointment will be put to
shareholders for approval at the groups annual general
meeting June 5, when Dieter Ameling and Sir Paul Judge will
stand for re-election as directors.
A version of this article was first published by AMM sister
publication Metal Bulletin.