Newspaper article The Canadian Press

Prominent Investor Eric Sprott to Step Aside as Chairman of Sprott Inc

Newspaper article The Canadian Press

Prominent Investor Eric Sprott to Step Aside as Chairman of Sprott Inc

Article excerpt

Sprott Inc. founder to step aside as chairman

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TORONTO - Eric Sprott will step down as chairman of Sprott Inc. as of May 10, when the fund company holds its annual meeting.

The Toronto-based asset management firm says it expects Jack Lee will become chairman of Sprott's board, a role he has held previously while Sprott was president and CEO of Sprott Inc. (TSX:SII) and Sprott Asset Management Inc.

Eric Sprott, who founded Sprott Inc., is well-known in Toronto's financial community for taking an unconventional approach by investing heavily in alternative assets such as precious metals and correctly anticipating changes in the market's direction.

One publication labelled Sprott a "Bay Street wizard" after he summed up his opinion in two words: "Buy Gold."

That was in September 2007, about a year before the collapse of Lehman Bros. …

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