Stillwater Mining Company Announces Contract Extension for Mick McMullen, President and Chief Executive Officer
29 March 2016 - 7:15AM
Stillwater Mining Company (NYSE:SWC) announced
today that Mick McMullen, the Company’s President and Chief
Executive Officer has agreed to a contract extension with the
Company’s Board of Directors. The new agreement will extend Mr.
McMullen’s employment contract until December 31, 2018 from
December 31, 2016. Mr. McMullen was elected to the Board of
Directors on May 2, 2013 and appointed President and Chief
Executive Officer of Stillwater Mining Company on December 3,
2013.
Commenting on the new contract, Brian Schweitzer,
the Company’s Chairman stated, “We are pleased to have extended
Mick’s contract for two years and believe this provides
shareholders with certainty of leadership. Subsequent to Mick’s
initial appointment, the Company has achieved its best safety
performance on record and a marked reduction in costs while
retaining a strong balance sheet. This extension means we will
continue with the same effective leadership that has consistently
delivered on the goals set in early 2014.”
About Stillwater Mining
Company
Stillwater Mining Company is the only U.S. miner of
platinum group metals (PGMs) and the largest primary producer of
PGMs outside of South Africa and the Russian Federation. PGMs are
rare precious metals used in a wide variety of applications,
including automobile catalysts, fuel cells, hydrogen purification,
electronics, jewelry, dentistry, medicine and coinage. The Company
is engaged in the development, extraction and processing PGMs from
a geological formation in south-central Montana recognized as the
J-M Reef. The J-M Reef is the only known significant source of PGMs
in the U.S. and the highest-grade PGM deposit known in the world.
The Company also recycles PGMs from spent catalytic converters and
other industrial sources. The Company owns the Marathon PGM-copper
deposit in Ontario, Canada, and the Altar porphyry copper-gold
deposit located in the San Juan province of Argentina. The
Company’s shares are traded on the New York Stock Exchange under
the symbol SWC. Information about the Company can be found at its
website: www.stillwatermining.com.
CONTACT:
Mike Beckstead
(720) 502-7671
investor-relations@stillwatermining.com
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