Capital Gold chief executive, founder resigns from his role at company

NEW YORK - Capital Gold Corp. says founder and chief executive Gifford Dieterle has resigned from his roles at the company.

The New York-based gold production and exploration company, which trades on both the New York and Toronto stock exchanges, did not cite any reasons for his departure.

"He leaves the company in a strong financial position and with a bright future," said president and chief operating officer John Brownlie in a release.

"We owe Gifford a debt of gratitude for his many years of valuable service to the company and wish him the best of everything in his future endeavours."

Capital Gold (TSX:CGC) did not comment on any plans for a successor.

Last March, Capital Gold was the centre of a failed takeover by Halifax-based Gammon Gold Inc. (TSX:GAM), which was terminated by Gammon without giving a reason for the decision.