Dominion Diamond CEO quits
Brendan Bell resigns from corporation, cites Calgary move
Jessica Davey-Quantick
Northern News Services
Wednesday, February 1, 2017
SOMBA K'E/YELLOWKNIFE
When Dominion Diamond Corporation moves its corporate office to Calgary later this year, CEO Brendan Bell won't be joining.
Dominion Diamond Corporation CEO Brendan Bell announced his resignation from the company on Monday, citing its upcoming move from Yellowknife to Calgary. - photo courtesy of Dominion Diamond Corporation |
Dominion announced on Monday Bell would step down from his role as CEO and member of the board of directors.
"Both the board of directors and I agreed that this is an appropriate time for me to hand the reins to someone else," stated Bell in a news release.
He declined Yellowknifer requests for an interview.
In November, Dominion announced that as a cost-cutting measure, it would relocate is head office to Calgary. The move is expected to be completed by the middle of 2017 and will see approximately 100 staff members leave the city. Dominion estimated at the time the move will save the company approximately $19 million annually, divided between the cost of office space and the cost of labour.
In a news release, Bell stated he continues to support the decision.
"The decision to move the corporate offices of Dominion from Yellowknife to Calgary was necessary in order to reduce operating costs and support the long-term strength of the company, and is one that I continue to support," he stated. "For personal reasons, however, this is not the right move for my family."
Dominion did not respond to requests by press time for an update on how many other people will be relocated to Calgary, how many will be laid off due to the move, or when exactly the move will take place.
When the relocation was announced, NWT Chamber of Commerce president Richard Morland told Yellowknifer he was "profoundly disappointed."
"In my mind the board has abandoned some of the values that they say they stand for ... in terms of creating a Northern, Canadian diamond company," he said in an interview in November. "Brendan ... and the board members better get their tails up to the North and explain themselves very clearly."
Morland could not be reached for comment on Bell's resignation by press time.
Speaking on behalf of the NWT Chamber of Commerce, executive director Mike Bradshaw said the chamber does not have a comment at this time. The NWT and Nunavut Chamber of Mines also could not be reached for comment.
Bell will stay on as CEO until June 30 until his replacement has been selected. Dominion has engaged executive headhunting firm Korn Ferry to begin searching for potential candidates.
"The board will be working closely with Brendan and the senior management team during the transition period," stated Jim Gowans, chairman of the board of directors. Bell has served as CEO since July 2015, taking over for company founder Robert Gannicott.
