Steve Kaszas
McEwenAbout Steve Kaszas
Independent director nominee elected at MUX’s June 19, 2025 annual meeting, with over four decades in financial services as a licensed investment advisor in Canada and the U.S.; prior senior leader at the Altberg Kaszas Group (BMO Nesbitt Burns) and earlier at Burns Fry; recognized community advocate and recipient of the Queen Elizabeth II Golden Jubilee Medal . Age and education were not disclosed in the proxy; he was elected with 19,265,359 votes “For” and 334,556 “Withheld” (8,342,616 broker non-votes) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BMO Nesbitt Burns (Altberg Kaszas Group) | Senior leader; investment advisor | Not disclosed | Financial markets expertise and client advisory leadership |
| Burns Fry | Early career; investment advisor; shareholder | Not disclosed | Capital markets experience; firm shareholder |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships were disclosed in the proxy . |
Board Governance
- Independence: The proxy states all directors named in its director table were independent except the CEO (Robert McEwen) and COO (William Shaver); independence for new nominees (including Kaszas) was not explicitly designated in the filing .
- Election outcome: See vote detail below indicating strong shareholder support .
- Committee assignments: Not disclosed for Mr. Kaszas as of the proxy and post-meeting 8-K; board maintained four standing committees (Audit; Compensation, Nominating & Corporate Governance; Environmental, Health & Safety; Disclosure) .
- Board meeting cadence and attendance (context): In 2024, the Board met 6 times and non-management directors met 4 times; no director serving in 2024 attended less than 75% of board/committee meetings .
Director election support (June 19, 2025):
| Nominee | For | Withheld | Broker Non-Votes |
|---|---|---|---|
| Steve Kaszas | 19,265,359 | 334,556 | 8,342,616 |
2024 Board committees and chairs (context):
| Committee | Chair | Members |
|---|---|---|
| Audit | Richard W. Brissenden | Brissenden (Chair), Robin Dunbar, Ian Ball |
| Compensation, Nominating & Corporate Governance | Allen Ambrose | Ambrose (Chair), Robin Dunbar, Merri Sanchez |
| Environmental, Health & Safety | William M. Shaver | Shaver (Chair), Allen Ambrose, Richard W. Brissenden |
| Disclosure | Ian Ball | Ball (Chair), Michelle Makori |
Board process signals:
- Majority voting policy: Nominee must tender resignation if “withheld” votes exceed “for” (in uncontested elections) .
- CEO/Chair combined: The Board currently combines roles (CEO as Chair), with presiding director duties handled by the Audit Chair for independent sessions .
Fixed Compensation
Director pay program (2024 framework):
| Component | Amount/Range | Notes |
|---|---|---|
| Annual cash retainer | $40,000 | Paid to non-executive directors |
| Committee membership fees | $2,000–$10,000 | Varies by committee and chair responsibility |
| Equity grants | Not shown for directors in 2024 | 2024 director comp table shows no stock/option awards to directors |
Performance Compensation
- No performance-based cash or equity compensation for directors was disclosed for 2024; director compensation consisted of cash retainers and committee fees .
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public company boards | None disclosed for Mr. Kaszas |
| Committee roles at other companies | None disclosed |
| Interlocks/conflicts via shared boards | None disclosed |
Expertise & Qualifications
- Capital markets: Four decades as a licensed investment advisor in Canada and the U.S.; senior leadership at BMO Nesbitt Burns (Altberg Kaszas Group) and Burns Fry .
- Governance/community: Recognized with the Queen Elizabeth II Golden Jubilee Medal; described as bringing a “global perspective” and focus on “sustainable growth” .
- Board needs fit: Financial expertise and investor-facing experience complement Audit/Compensation oversight skillsets on a mining issuer’s board .
Equity Ownership
| Item | Status |
|---|---|
| Beneficial ownership (director-specific) | Not disclosed for Mr. Kaszas as of record date (Apr 28, 2025); he is not listed among officers/directors in the ownership table . |
| Ownership guidelines | Company encourages equity ownership but has no mandatory share ownership policy for directors or executives . |
| Hedging/pledging policy | Insider Trading and Disclosure Policy prohibits short sales, options trading, and hedging transactions in company stock by directors, officers, and employees . |
| Pledging | No pledging by Mr. Kaszas disclosed . |
Governance Assessment
- Shareholder support: Strong “For” vote (19.27M for, 0.33M withheld) suggests investor confidence in his nomination and skillset .
- Alignment: Director pay is heavily cash-based with no 2024 director equity grants and no mandatory ownership guidelines, which may limit long-term alignment for new directors; however, the Company restricts hedging/short sales, supporting alignment for any shares held .
- Independence and conflicts: No related-party transactions involving Mr. Kaszas were disclosed; broader company RPTs include loans with an affiliate of the CEO (Evanachan) and legal fees to the GC’s firm (REVlaw), which are overseen by the Audit Committee under stated policies .
- Board effectiveness: Six board meetings and four independent sessions in 2024 with ≥75% attendance by all serving directors; standing committees and majority voting policy are in place, though CEO/Chair combination persists (mitigated by independent presiding director in sessions) .
Appendix: Shareholder Votes (context)
| Proposal | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Say-on-Pay (advisory) | 18,735,730 | 514,236 | 349,959 | 8,342,616 |
| Ratify EY (auditor) | 27,269,481 | 523,370 | 149,687 | 0 |
Notes:
- 2024 Board activity and committee compositions reflect the year ended Dec 31, 2024; Mr. Kaszas was elected June 19, 2025 (committee assignments for him were not disclosed as of the proxy and subsequent 8-K) .
- No family relationships among directors or officers were disclosed .