The company, backed by Egyptian billionaire Naguib Sawiris, also said in a Thursday statement that it had been considering how to respond to an external investigation into the CEO’s personal conduct with colleagues, following whistle-blowing allegations from October.
De Montessus denied allegations of misconduct but acknowledged “a lapse in judgement,” in a statement issued later Thursday afternoon. The former executive said that in 2021 he instructed an unnamed creditor of Endeavour to offset an amount owed to the company for essential security equipment, to protect its partners and employees in an unspecified conflict zone.
The dramatic termination ends de Montessus’ seven-year stint as Endeavour’s top executive. The former executive transformed the company through a flurry of deal-making and mine-building that replaced small and high-cost operations with new flagship projects. The company operates gold mines in West…
