Management changes at Endeavour after SEMAFO acquired
(Kitco News) - African miner Endeavour said Thursday Benoit Desormeaux will be the group's president.
Endeavour Mining (TSX: EDV) said Thursday it has completed its acquisition of SEMAFO.
Announced in March the friendly takeover is valued at C$1 billion. Officials said the combined company would have more than 1 million ounces of gold output in 2020, based on current guidance, making it one of the top 15 producers in the world. The gold producer would be the largest in West Africa with six operations, plus projects and a growth pipeline.
Updated production and guidance will be released in the company's Q2.
In addition to Desormeaux becoming president, Martin Milette decided not to carry on as chief financial officer. Henri de Joux, Executive Vice President of People and Information Technology at Endeavour, is currently serving in the role in the interim.
Sébastien de Montessus stays on as executive director and CEO of Endeavour.