Mountain Province Diamonds, which part-owns the Northwest Territories’ Gahcho Kué diamond mine, says its chief executive and president has left the company.
Stuart Brown had held the positions since July 2018. In a news release on Wednesday, Mountain Province said he and the company “reached a mutual decision” that Brown would leave effective immediately. He also resigned as a director of the company.
Jonathan Comerford, a director of Mountain Province since September 2001, has been appointed interim president and chief executive until a full-time replacement is announced.
“I would like to thank Stuart for his strong and committed service as CEO of Mountain Province for the past three years,” Comerford was quoted as saying. “Stuart has guided the company through difficult times for the diamond sector, including the very challenging Covid-19 pandemic. He leaves the company in a stronger position entering 2022.”
According to Mountain Province, Brown has more than 25 years of experience in the diamond industry including serving as chief financial officer for the De Beers Group, and chief executive of Firestone Diamonds.
No reason for Brown’s departure from Mountain Province was stated. Cabin Radio could not reach Brown for comment by the time of publication.
A statement from Mountain Province last month reported “serious financial difficulty” at the company, but executives had expressed confidence that world diamond markets were emerging from the pandemic and sales were improving.