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Dalman resigns from ENRC; Ammann named chairman

Keywords: Tags  Eurasian Natural Resources, ENRC, Mehmet Dalman, Gerhard Ammann, claire hack


LONDON — Mehmet Dalman has resigned as chairman of Eurasian Natural Resources Corp. (ENRC) and has been replaced by Gerhard Ammann, the company said April 23.

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 company.

"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 group’s 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 ahead."

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 group’s 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.


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