Oct 26 (Reuters) - Paul Wright, the former chief executive of Eldorado Gold Corp, plans to resign from the board of the Canadian gold miner, where he is vice chairman, the company said in a statement accompanying its quarterly results.
Wright retired as CEO in April after nearly 18 years at the Vancouver-based company’s helm and became vice chairman. He will resign as of Dec. 31, the company said, without giving any reason for his departure.
Shares in Eldorado have fallen 61 percent this year, in part on the back of the miner’s struggles to get permits for its gold projects in Greece. In September it threatened to freeze its Greek investments, which the company made under Wright in 2012, but later backed down.
The stock fell this week to its lowest level in 15 years - C$1.59 - after Eldorado cuts its gold production forecast for its flagship Kisladag mine in Turkey due to lower-than-expected ore grades. It closed at C$1.68 on Thursday. (Reporting by Nicole Mordant in Vancouver, Editing by Rosalba O’Brien)