Endeavour Mining fires CEO, alleges ‘serious misconduct’

Endeavour Mining has fired CEO Sébastien de Montessus — alleging that he engaged in “serious misconduct.”

What’s happening at Endeavour Mining?

In a news release on Jan. 4, Endeavour Mining said its decision to terminate Montessus follows an investigation “into an irregular payment instruction issued by him in relation to an asset disposal undertaken by the [company].”

According to the U.K.-based gold producer, Montessus allegedly misdirected US$5.9-million. The payment was uncovered during a review of the company’s past M&A transactions, which is still ongoing.

“Separately, in October 2023, allegations were made against [Montessus] through [our] confidential whistleblowing channel relating to his personal conduct with colleagues,” the release reads.

“Following a recent external investigation, the [board of directors] had received the findings and, at the point of termination, was considering the appropriate course of action.”

In its annual proxy circular filed in April, Endeavour Mining said it wouldn’t provide Montessus — or any other executive — with a severance package if they were fired for cause.

At the end of 2022, the company estimated that Montessus would have been entitled to as much as US$10.23 million in severance.

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Who is the new CEO of Endeavour Mining?

Endeavour Mining has tapped Ian Cockerill, deputy chair of its board of directors, to take the reins.

In addition to being CEO and executive director, the company said Cockerill will be “reviewing his other, current directorships in light of his appointment.”

Severance pay in Canada

In Canada, non-unionized employees can get up to 24 months of severance pay when they are fired or laid off from their job without cause.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

Even if you are fired for cause, it’s very likely that you are still entitled to full severance pay because non-unionized workers often don’t meet the conditions necessary for this type of dismissal.

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Regardless of a company’s grasp on employment law, they are legally required to provide proper compensation following a termination.

This concept applies during challenging economic conditions, downsizing, the closure of a business, or major public health events such as the COVID-19 pandemic.

To figure out how much severance you could be owed, use our firm’s free Severance Pay Calculator. It has helped millions of Canadians determine their entitlements.

If your employer doesn’t provide you with the correct amount, you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP immediately.

We regularly resolve wrongful dismissal claims and can help you secure the compensation you deserve.

LEARN MORE
• Severance packages for mining sector staff
• Rights to severance for provincially regulated workers
• Severance pay for federally regulated employees

Severance pay for executives

Severance packages for C-suite employees can be complex due to the numerous factors that must be considered for compensation.

For Canadian executives, these factors can include:

• Salary
• Bonuses or incentive payments
• Stock options
• Profit-sharing
• Employee discounts
• Benefits
• Pension contributions
• Outplacement counselling
• Legal fees

Similar to other non-unionized employees, the scope of a C-suite employee’s severance package can be limited by the terms agreed upon in their employment agreement or offer.

Therefore, it’s advisable for all employees to have their contracts reviewed by a member of our team before signing.

This step ensures they fully understand the implications for their future entitlements in the event that they are terminated or lose their job.

SEE ALSO
• Should I negotiate my own severance package in Ontario?
• What Albertans need to know about negotiating severance packages
• Negotiating severance in B.C.: What employees need to know

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP.

Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.