The Compagnie Minière de Touissit (CMT) is entering a pivotal period of transition following the resignation of its CEO and Chairman, Luc Gérard. The decision, confirmed during a Board of Directors meeting on December 3, 2024, comes in the wake of widely publicized legal proceedings. These changes aim to safeguard the company’s integrity while ensuring stable governance.
Legal context: A case in progress
The departure follows a judgment by default issued by the Casablanca First Instance Criminal Court on October 15, 2024. Despite the ruling, CMT clarified that neither the company nor Gérard were formally summoned in connection with the case, rendering the judgment null and void.
In response, an appeal has been filed, ensuring a new trial where all parties can present their case and receive fair treatment. This legal strategy reflects CMT’s commitment to transparency and due process during this challenging period.
Gérard’s resignation: A strategic move
To protect CMT’s reputation and enable a smooth governance transition, Luc Gérard announced his resignation from his roles as Chairman, CEO, and board member. The Board of Directors expressed its regret while recognizing Gérard’s substantial contributions to the company, which have driven key strategic advancements over his tenure.
Ensuring stability during transition
Although stepping down, Gérard has agreed to remain in his position temporarily, at the Board’s request, until a successor is appointed. This interim period, capped at three months, is designed to maintain stable operations and effective management during the leadership search.
A turning point for CMT
The resignation marks a significant moment for Compagnie Minière de Touissit, as it navigates legal challenges and prepares for new leadership. While Gérard’s tenure leaves behind a legacy of strategic growth, the upcoming months will be crucial in determining the company’s direction and maintaining its position in the mining sector.
CMT remains committed to upholding its values of integrity, ensuring a seamless transition, and continuing its operational and strategic momentum.
