Board dispute leads to resignation

Norton Gold Fields' managing director Jon Parker has resigned after a disagreement with the company's board.

A disagreement with the company’s board is behind the shock resignation of Norton Gold Fields managing director and company director Jon Parker.

“The decision to resign reflects a difference in opinion regarding the strategic direction of the company at board level,” the company said in a statement released this morning.

Parker’s resignation from Norton, where he has been managing director January 2008 and a company director since September 2006, is effective immediately.

“Norton Gold Fields has grown substantially during the past 24 months and, whilst there has not always been smooth sailing, the company has achieved some impressive outcomes,” Parker said in the statement.

The Brisbane-based company has named non-executive director and mining engineer Mark McCauley as interim chief executive while it begins a search fro a permanent replacement.

News of the sudden resignation sent Norton’s share plummeting, dropping 14.29% to 27 cents immediately following the announcement.

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