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Detour Gold appoints Paulson-backed interim CEO

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Detour Gold appoints Paulson-backed interim CEO

Detour Gold Corp. said Jan. 3 that it appointed Paulson & Co. Inc. nominee Bill Williams as interim CEO to replace Michael Kenyon.

Williams, former CEO of Orvana Minerals Corp., is among the five Paulson-backed Detour board members elected at a special Dec. 13, 2018, shareholders meeting requisitioned amid pressure from the activist investor to overhaul the board.

In a monthslong proxy fight, Paulson alleged that the board under Kenyon's leadership enriched themselves with shareholders' cash while the company's share price plummeted.

Kenyon, who served as interim CEO over the past seven months, resigned after not being elected to the board.