AEM ... Globe tips its hat to Agnico's long-serving CEO
Agnico Eagle Mines Ltd (C:AEM)
Shares Issued 239,850,414
Last Close 12/31/2019 $79.98
Thursday January 2 2020 - In the News
The Globe and Mail reports in its Thursday edition that whoever assumes the top executive spot at Agnico Eagle Mines will have a tough act to follow. The Globe's Niall McGee writes that Sean Boyd, 61, is by far the longest-serving senior gold executive in Canada -- and, possibly, the most successful. An accountant by training, Mr. Boyd was originally the company's outside auditor, then its chief financial officer and, after the death of company founder Paul Penna, he became its chief executive officer in 1998. In the two decades since, the Toronto miner has grown from being a small producer with a single mine in Quebec into the world's third-most-valuable gold company, with nine mines in three countries. Its share price has gone from $6 to $80. The Globe notes that in 2019, Agnico brought two new mines into production in Nunavut, investing heavily in new infrastructure, including building 200 kilometres of roads. The challenges of operating in the Arctic are enormous, and Mr. Boyd has called on the federal government to invest in Canada's North. Apart from huge industrial infrastructure needs, local indigenous populations need help with basics such as access to housing and food. Mr. Boyd has no immediate plans to retire.
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