A Montana coal executive has dropped out of a group seeking to take control of Stillwater Mining Co. after questions were raised about his academic credentials.
The New York-based Clinton Group, which is leading the takeover attempt, said Tuesday that Signal Peak Energy President John DeMichiei asked to be removed from a slate of new directors proposed for the precious-metals miner.
Stillwater CEO Frank McAllister had challenged whether DeMichiei received two degrees listed under his name in a biography circulated by the Clinton Group.
DeMichiei told The Associated Press that he earned the equivalent of the bachelor of science listed in the biography when he was certified as a federal mining engineer.
He said his master of public administration from American University included coursework identical to the master of business administration cited in the biography.