- Kenneth Loeb has resigned as the Chair of Calian Group (CGY) following an incident that occurred in July this year
- He was arrested and charged on August 20 with one count of uttering “a threat to cause death” and two counts of assault
- While the incident did not involve anyone else at the company, Calian said it does not tolerate abuse of any kind and will continue to review the matter
- Kenneth will be replaced by George Weber, who has been a director of Calian since 2012
- Calian Group (CGY) is currently down 0.46 per cent and is trading at C$65.15 per share
Kenneth Loeb has resigned as the Chair of Calian Group (CGY) following an incident that occurred in July this year.
According to the Ottawa Police Service, Kenneth was arrested and charged on August 20 with one count of uttering a threat to cause death and two counts of assault.
The event is alleged to have occurred on July 24, and is said to have involved a person not associated with Calian Group, but who was known to Kenneth.
Calian Group said in today’s release that it does not tolerate any kind of abuse and will continue to review the matter as further developments occur.
As a results of the resignation, Kenneth will be replaced by George Weber – a director of Calian Group since 2012 – but will continue to serve as a director of the company.
According to The Chronicle Herald, Patrick Houston, CFO of Calian Group, said the charges don’t involve the company, so the board didn’t believe they would affect his job as director.
Kenneth has been a director of Calian Group since 2001, and has served as Chair of the Board since 2006.
Kenneth’s lawyer, Joshua Clarke of Ottawa-based criminal defence firm Armoured Suits, also commented on the charges, noting that his client is aware of the process and that he is “optimistic that the matter will resolve shortly on amicable terms.”
However, Joshua said he has not yet received the Crown’s case against Kenneth.
Kenneth is expected to make his first scheduled court appearance on September 10, 2020.
Calian Group (CGY) is currently down 0.46 per cent and is trading at C$65.15 per share at 11:10am EDT.