BILLINGS – Former Montana Gov. Brian Schweitzer has been elected chairman of the Stillwater Mining Co. board of directors.
The company announced Monday that Schweitzer will replace Frank McAllister, who has served as chairman and CEO of the precious metals mining company since 2001.
McAllister will continue as president and CEO during an interim period while the board seeks a candidate to succeed him.
Stillwater is Montana’s largest publicly traded company.
Schweitzer was among four new board members elected on May 2. He and a New York hedge fund campaigned against alleged mismanagement by McAllister, who was re-elected to the board.
McAllister had been criticized as being overpaid after making almost $5 million last year even though the company’s stock price has dropped sharply under his tenure.
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