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Two Dominion Diamond Independent Directors Resign

Dominion Diamond (TSX:DDC) announced that two of its independent directors had resigned on Thursday, and as the Globe and Mail reports, the diamond company has been facing shareholder pressure to shake up its board.

As quoted in the publication:

The departures come just days after a group of Dominion Diamond shareholders publicly called on the company’s independent directors to deal with the “misguided policies and missed opportunities” that have hurt their investment.

The group — led by K2 & Associates Investment Management Inc. — says it recognizes that the mining industry faces “headwinds” but believes Dominion Diamond’s shares are “significantly undervalued by the public markets.”

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