December 3, 2018 / 12:19 PM / a year ago

ISS recommends shareholders to vote for Detour Gold in proxy fight

Dec 3 (Reuters) - Institutional Shareholder Services Inc (ISS) has recommended shareholders to vote in favor of Detour Gold Corp’s plans at the upcoming special shareholders meeting, giving the gold miner a boost in its proxy fight with activist investor Paulson & Co.

“Dissident has failed to make a compelling case for board control and has failed to articulate a detailed go-forward plan,” the proxy advisory firm said.

In November, the activist investor called for the immediate resignation of Detour’s interim Chief Executive Officer Michael Kenyon and board member Alex Morrison.

Detour responded last week saying Kenyon will continue to head the company until a replacement was found.

Reporting by Debroop Roy in Bengaluru

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