General Moly,Inc. (NYSEMKT:GMO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, Lee M. Shumway, the Chief Financial Officer of General Moly, Inc. (the “Company”), has resigned his employment with the Company, effective May 12, 2017. Mr. Shumway has accepted a call from The Church of Jesus Christ of Latter-day Saints effective July 1, 2017, to serve as one of the Church’s international mission presidents.
On April 27, 2017, the Board of Directors (the “Board”) of the Company appointed Bruce D. Hansen, the Company’s Chief Executive Officer, as the Chief Financial Officer of the Company, effective May 12, 2017. The Board also appointed Amanda Corrion, the Company’s Controller, as Principal Accounting Officer of the Company, effective May 12, 2017.
Mr. Hansen, 59, has been the Company’s Chief Executive Officer and a member of the Board since January 2007. Mr. Hansen served as interim Chair of the Board from October 2007 through December 2010. From September 2005 through November 2006, Mr. Hansen served as Senior Vice President, Operations Services and Development at Newmont Mining Corporation. From July 1999 to September 2005, Mr. Hansen served as Senior Vice President and Chief Financial Officer at Newmont Mining Corporation. Mr. Hansen also served as the Vice President of Project Development for Newmont and previously was the Senior Vice President of Corporate Development for Santa Fe Pacific Gold Corporation. Mr. Hansen is a director and Chairman of the Audit Committee of Energy Fuels, Inc. and is also a director of ASA Gold and Precious Metals, Ltd., where he serves as Chairman of the Audit and Ethics Committee.
Ms. Corrion, 36, has been the Company’s Controller since March 2016. She previously served as the Company’s Assistant Controller from March 2013 to March 2016, and has been with the Company since August 2008 as a Senior Accountant and Accounting Manager. Prior to joining the Company, Ms. Corrion spent five years as an Associate and Senior Associate in the audit practice at KPMG. She received her Colorado CPA license in 2009 and holds a Chartered Global Management Accountant certification with the American Institute of Certified Public Accountants. As a result of these additional responsibilities, the Compensation Committee of the Board of Directors have approved an approximately 5% increase in annual base salary to $155,000, increased the incentive award opportunity to 50% of annual base salary; and provided a new employment agreement, on identical terms and conditions to other executive officers, each effective May 12, 2017.