PR Newswire
TORONTO, Nov. 28, 2024 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), today announced certain governance changes following its previously announced sale of Black Hills Surgical Hospital, LLP ("Black Hills") to Sanford Health. In order to compensate the individuals who made significant contributions to the successful sale of Black Hills, the Board of Directors of MFC (the "Board") determined to pay transaction bonuses to Jason Redman, CEO, and Michael Gisser, Chair of the Board, in addition to bonus allocations to other members of the management team. As a result of the transaction bonus paid to Mr. Gisser, the Board determined that Mr. Gisser no longer satisfies the independence requirements set forth in National Instrument 52-110, and accordingly, Mr. Gisser stepped down as a member of the Audit Committee and as Chair of the Board so that a Chair may be appointed who is independent for purposes of National Instrument 52-110 in furtherance of corporate governance best practices. The Board has appointed Adina Storch as the new independent Chair of the Board.
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