Silver Standard president Quartermain resignsSilver Standard president Quartermain resigns
2010-01-19 18:10 ET - News Release
Mr. Peter Tomsett reports
ROBERT QUARTERMAIN RESIGNS AS PRESIDENT AND CEO OF SILVER STANDARD
Robert A. Quartermain has resigned as Silver Standard Resources Inc.'s president and chief executive officer effective Jan. 19, 2010.
Mr. Quartermain stated: "The board of directors and I have agreed that it would be an appropriate time for me to step down as an executive of the company. I have had an exceptional and enjoyable career at Silver Standard that has spanned 25 years as we have created a major silver company from a small exploration company."
Peter Tomsett, Silver Standard's chair, stated: "Bob has spent the last 25 years managing Silver Standard's impressive resource growth, and has done an outstanding job in creating shareholder value. We are pleased that Bob will remain on the board to ensure a seamless transition to a new CEO as we continue to evolve from a successful exploration company into a major silver producer."
The board of directors is conducting a search for Mr. Quartermain's successor. Pending the completion of the search, A.E. Michael Anglin will step in as interim president and CEO. Mr. Anglin has been a director of Silver Standard since 2008.
Mr. Anglin is a well-known and highly regarded mining engineer with a career of over 20 years in senior management roles at BHP Billiton. His most recent role before his retirement in 2008 was as vice-president operations and chief operating officer of BHP Billiton's base metals group based in Santiago, Chile. His extensive international experience has ranged from multisite management to technical, functional and business development. Prior to joining BHP Billiton in 1986, he held engineering roles at Texasgulf and New Jersey Zinc. He holds a BSc honours (mining) and an MSc from the Royal School of Mines, Imperial College, London.
Mr. Tomsett stated: "We are fortunate to have an executive with Mike's experience, knowledge and expertise on the board to step in on an interim basis to manage the company. I am confident that the company is in good hands pending completion of a successful CEO search."
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