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BRIEF-Gemini restructures leadership and operations

Published 2017-11-28, 08:49 p/m
Updated 2017-11-28, 08:50 p/m
© Reuters.  BRIEF-Gemini restructures leadership and operations

Nov 28 (Reuters) - Gemini Corp GKX.V :

* GEMINI RESTRUCTURES LEADERSHIP AND OPERATIONS

* TO RESTRUCTURE ITS ALBERTA OPERATIONS TO RESTORE PROFITABILITY BY FOCUSING ON FIELD OPERATIONS

* SIGNIFICANT PERSONNEL REDUCTIONS WILL OCCUR PRIMARILY IN CALGARY WITH ELIMINATION OF 22 STAFF AND 15 CONTRACTOR POSITIONS

* ONE-TIME COSTS INCURRED ARE EXPECTED TO RANGE BETWEEN $2.0 AND $2.5 MILLION, WHICH WILL BE RECORDED IN Q4 OF 2017

* PETER SAMETZ, PRESIDENT AND CEO, ROGER HARRIPERSAD, VP OF HUMAN RESOURCES HAVE RESIGNED FROM GEMINI, EFFECTIVE IMMEDIATELY

* TERRY MARTIN, COO, HAS INFORMED BOARD OF HIS INTENTION TO DEPART GEMINI IN SPRING OF 2018

* GARY WILLIAMS HAS BEEN NAMED INTERIM PRESIDENT AND CEO OF GEMINI CORPORATION, EFFECTIVE IMMEDIATELY

* INITIATED A SEARCH FOR A PERMANENT PRESIDENT AND CEO

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