BILLINGS, Mont. (AP) — The chief executive of Montana’s largest publicly traded company has retired in the wake of a corporate shake-up led by former Gov. Brian Schweitzer.
Representatives of Stillwater Mining Co. said Friday the retirement of Frank McAllister would go into effect immediately.
He had been with the company since 2001, but lost his post as chairman of the board last month to Schweitzer.
The two-term Democratic governor recently teamed up with a New York hedge fund to oust half the company’s board of directors. They alleged mismanagement by McAllister put Stillwater’s more than 1,600 jobs at risk.
A company spokesman says McAllister will not comment on his departure.
The announcement came after the markets closed. Stillwater was down 20 cents, to $12.21, on the New York Stock Exchange.
