Seabridge Gold (TSX: SEA) (NYSE: SA) CEO Rudi Fronk announced Monday that the company’s board of directors has voted to create a new position of Lead Director to strengthen the independence of the board from management.
“My dual role as Chairman and CEO was not ideal from a corporate governance point of view,” Fronk said in a media release. I look forward to sharing some of my duties with our new lead director, John Sabine.”
Sabine has been a director of the company since 2014 and Chairs the Corporate Governance and Nominating Committee. He is a seasoned lawyer with extensive experience in mining, corporate governance and reorganization, corporate finance, and mergers and acquisitions, Seabridge said, adding that Sabine is widely recognized for advising clients on complex international projects. In addition to advising public companies and investment banks, he has served on the boards of directors of a number of public and private companies in a variety of businesses.
The Lead Director facilitates the functioning of the Board independently of the Corporation’s management and also works to maintain and enhance the quality of the corporation’s corporate governance practices.
Seabridge holds a 100% interest in several North American gold projects. Seabridge’s assets include the KSM and Iskut projects located near Stewart, British Columbia, Canada, the Courageous Lake project located in Canada’s Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project in the Yukon Territory.