Yesterday, Ascot Resources Ltd (OTCMKTS:AOTVF) was in the news after it announced that Bob Evans took the decision to retire from his position on the company’s board after having served for as long as 32 years.
The retirement of such a long time board member is almost always significant news for any company but it did not have much of an effect on the Ascot Resources stock, which traded within a range. In this context, it should be noted that Evans had been one of the founders of the company and had in fact served as the Chief Financial Officer of Ascot Resources from 1989 through to 2017.
In addition to that retirement of Bob Evans, the company also announced that Indi Gopinathan had been inducted to the board as a replacement. Gopinathan is a highly experienced operator as well and has worked in the capital markets as well as the mining sector for as long as a quarter of a century. That sort of industry experience is expected to be a major boost for Ascot Resources. At this point in time, Gopinathan is employed as the Vice President of Investor Relations and Corporate Communications at IAMGOLD.