Resignations from the Board

It is with deep regret that we learned today that Yukon Energy's Chair, Willard Phelps, and three members of the Board of Directors - Greg Hakonson, Paul Hunter, and Martin Allen - have resigned. Their resignations take effect immediately. They have also stepped down from their positions on the Board of the Yukon Development Corporation (YDC), our parent company. 

While it would not be appropriate for us to speak on behalf of these four individuals, a news release that they put out today quotes Mr. Phelps as saying, "We have fundamental differences with Government of Yukon regarding the value, the role, and the governance of these Corporations. We also disagree on issues concerning the role of the Boards. For these and other reasons, we find it impossible to continue to perform in a manner that fulfills the responsibilities and obligations that these positions require."

All four board members made a huge contribution to Yukon Energy, and we will certainly miss them.

The remaining four members of Yukon Energy's and YDC's Board of Directors will continue to carry out the duties of the boards. Pat Irvin, who until now has been the boards' Vice Chair, has assumed the role of Chair for both boards until a more permanent replacement can be found.

It is the Yukon government that is responsible for filling YDC board vacancies. The YDC board is in turn responsible for filling the vacancies on Yukon Energy's board.