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Stillwater Mining Company Announces Governance Changes
Stillwater Mining Company SWC.U
5/20/2013 7:00:38 AM
Stillwater Mining Company Announces Governance Changes
BILLINGS, MT--(Marketwired - May 20, 2013) - STILLWATER MINING COMPANY (NYSE: SWC) (TSX: SWC.U) today announced the election of Brian Schweitzer, the former governor of Montana, as Chairman of the Board. Governor Schweitzer, elected to the Board at the Company's Annual General Meeting of shareholders on May 2, 2013, replaces Frank McAllister as Chairman. Mr. McAllister, who has served as Chairman and Chief Executive Officer (CEO) of the Company since 2001, will continue in the role of CEO and President of the Company during an interim period while the Board seeks a suitable candidate to succeed him. A committee of the Board has been established to carry out the CEO search, which will begin immediately.
Stillwater's new Chairman, Governor Schweitzer, observed, "Stillwater Mining Company is favored with unique, high quality mineral assets in Montana which hold tremendous promise for the Company's future. I am honored to have the privilege of working with this new Board of Directors, which includes individuals with long experience and diverse perspectives on the mining industry. Together with the Company's dedicated and outstanding Montana-based workforce, I believe the Company's prospects for the future are exceptionally bright."
Reflecting on his experiences as Chairman of the Company, Mr. McAllister noted, "I have taken immense pleasure from the many warm associations I have enjoyed during my service as Chairman of Stillwater Mining Company. Stillwater has a wonderful workforce and world-class operations. I welcome Governor Schweitzer as the Company's new Chairman, and I firmly believe that under his leadership, Stillwater will achieve new heights in its performance. I look forward to working with the Governor and the new Board as we complete this leadership transition."