Ex-CEO pays Endeavour US$1.35m in settlement
De Montessus was fired in January following allegations of serious misconduct
Endeavour Mining's former chief executive, Sébastien de Montessus, paid US$1.35 million to the company in July following a settlement agreement.
The payment is in addition to the $26.4 million already forfeited and clawed back, the company said in its quarterly filings.
In January, Endeavour fired De Montessus for alleged serious misconduct, saying that it found irregular payments of $5.9 million linked to the sale of the Agbaou mine in Côte d'Ivoire in 2021. According to the gold miner, De Montessus instructed Allied Gold to pay the amount to a third-party offshore entity in the United Arab Emirates rather than a member of the group.
In March, the company finished the full investigation and said it found further hidden payments of $15 million in addition to the original $5.9 million. According to the investigation, there was no evidence of any payments being made to sanctioned persons or terrorist groups, although the ultimate beneficiaries of the payments were not discovered.
Endeavour commanded a total clawback of remuneration of $29.1 million, including $15.6 million for unvested share awards.
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