People | People-Resignation

Niko Shuffles Board Following Retirements

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The Board of Directors of Niko Resources Ltd. has provided the following updates:

Appointment of New Directors

Kevin J. Clarke and Steven K. Gendal have been appointed to the Board of Directors effective August 13, 2014.

Mr. Clarke has led global high performance organizations of up to 15,000 people with sales over $1 billion and manufacturing facilities across the US, Canada, and Latin America. From 2010 to 2013, Mr. Clarke was President and Chief Executive Officer of Catalyst Paper, a manufacturing company specializing in pulp and paper for newspapers, magazines and other print applications, and led the financial and operational restructuring of the company. His restructuring experience included guidance through CCAA bankruptcy protection process, reduction of debt and annual costs, and successfully improving overall productivity and performance levels. Previously, Mr. Clarke was Group President and President of Worldcolor (Quebecor World) from 1986 to 2009, where he led institutional strategic planning and strategic business development initiatives. Mr. Clarke holds a Bachelor of Science - Transportation and Logistics from Niagara University in New York.

Mr. Gendal has worked for over fourteen years at Whippoorwill Associates, Inc., an investment firm specializing in distressed debt and special situations, and is currently the co-portfolio manager. Previously, Mr. Gendal was a Corporate Finance Associate at Brean Murray & Company from 1999 to 2000. Mr. Gendal received a Juris Doctorate from Brooklyn Law School and has a Bachelor of Science in Finance from Syracuse University.

Mr. Wendell W. Robinson, Chairman of the Board of the Company said: "Kevin and Steven bring to the Board an independent specialized set of experience, knowledge and expertise that the Company requires in the furtherance of a successful restructuring and strategic development of plans for Niko's future recovery."

The following current directors will be retiring from the Board of Directors:

Wendell W. Robinson (Chairman of the Board of the Company)
Norman M.K. Louie (Mount Kellett Capital Management LP)
Charles S. Leykum (CSL Capital Management, LLC)
Murray E. Hesje (former Vice President Finance and Chief Financial Officer of the Company)