By: E&P Staff
Sun-Times Media Group said Monday it had reduced the size of its board of directors from to seven from 11, and elected two directors — including a representative of its new major stakeholder South Pole Capital.
The parent corporation of the Chicago Sun-Times said Robert Poile, lead portfolio strategist for South Pole, had been elected to the board. Also elected was Peter Dey, chairman of the Toronto investment firm Paradigm Capital Inc., who had been a board member until he resigned last August as part of a settlement agreement with Hollinger Inc. (then the controlling stockholder in Sun-Times Media Group).
As part of its settlement of extensive litigation with Hollinger — the Toronto-based holding company Conrad Black used to control the Sun-Times publishing company — six of eleven Sun-Times Media Group directors resigned on June 18.