Globe says Inco's Sopko plans to step down in April
Inco Ltd N
Shares issued 181,702,011 Feb 6 close $25.30
Tue 6 Feb 2001 In the News
The Globe and Mail reports in its Wednesday, Feb. 7, edition that Inco
chairman, Michael Sopko, is stepping down as head of the company. The
Globe's Allan Robinson writes that Mr. Sopko says before the end of this
summer, he expects Inco will formally announce that it will be proceeding
with the $1.3-billion (U.S.) Goro Nickel project in New Caledonia. Inco
says that going ahead with New Caledonia does not preclude it from
proceeding with the Voisey's Bay nickel project in Labrador. Inco also says
it will consider joint-venture partners for both projects. Mr. Sopko will
officially step down as chairman and chief executive at the annual meeting
on April 25, although he will remain as non-executive chairman. Inco
president, Scott Hand, 58, will become deputy chairman and CEO. Peter
Jones, 53, the executive vice-president, operations, will become chief
operating officer.
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