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Stillwater Mining CEO retires after board shake-up

By Associated Press
Published On: Jun 07 2013 04:24:08 PM MDT
STILLWATER MINE
BILLINGS, Mont. -

The chief executive of Montana's largest publicly traded company has retired in the wake of a corporate shake-up led by former Gov. Brian Schweitzer.
    
Representatives of Stillwater Mining Co. said Friday the retirement of Frank McCallister would go into effect immediately.
    
He had been with the company since 2001, but lost his post as chairman of the board last month to Schweitzer.
    
The two-term Democratic governor recently teamed up with a New York hedge fund to oust half the company's board of directors. They alleged mismanagement by McCallister put Stillwater's more than 1,600 jobs at risk.
    
A company spokesman says McCallister will not comment on his departure.
    
The announcement was made after the markets closed. Stillwater was down 2 cents, to $12.21, on the New York Stock Exchange.