1. Activist Investor Pushing for New Board of Directors at Hudbay Minerals

    Activist Investor Pushing for New Board of Directors at Hudbay Minerals

    TORONTO - An activist investor in Hudbay Minerals Inc. ( HBM.TO ) says it will push for a new slate of directors at the company's next annual meeting after accusing the board of mismanagement. Waterton Global Resource Management Inc. said it is advocating for change at the mining company to address “massive value destruction and chronic underperformance.” The investment fund, holding about 10 per cent of Hudbay shares, said it pushed for dialogue with the company in October on potential changes to the board but was disappointed with the response. Waterton has also pushed to halt Hudbay's plans, announced at ...

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    1. While Hudbay remains open to continued dialogue, it is disappointed with Waterton's personal attacks on certain of the company's leadership, its selective use of performance metrics and its revisionist history regarding its confrontational approach to date.
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