A proxy fight is brewing at Goldcorp Investments, where Robert Simon and James McCartney are asking holders of the company’s A shares to appoint one of them as a proxy representative at the Goldcorp annual meeting June 25 in Toronto. Simon, senior vice-president and treasurer of Brascan, has been a Goldcorp director for seven years; he has not been nominated by Goldcorp management for re-election. McCartney, a lawyer who was recently removed from the board of directors of Goldcorp-controlled Dickenson Mines (TSE), owns 100 A shares of Goldcorp.
The two men are seeking the removal of Robert McEwen from the Goldcorp presidency, the replacement of CSA Management as manager of Goldcorp, a reduction in the management fee charged, and independent representation for holders of A (participating partially voting) shares.
Simon and McCartney say they will stand for election to the Goldcorp board as representatives of the A shareholders.
The CSA annual meeting is scheduled for June 18 in Toronto.
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