James D. “Dusty” Clem has resigned after a little more than a year as chairman, president, and CEO of DGSE Companies, the wholesaler and retailer of metals, jewelry, and coins.
He has held those roles since April 2014. Prior to that, he served as the company’s chief operating officer.
No replacement was named. Clem resigned to “pursue other opportunities,” DGSE said.
DGSE’s chief financial officer Brett Burford said in a statement that the company has “begun the search for a new leader who will continue DGSE’s efforts to create profitable, long-term growth for our shareholders.”
In its first quarter, ended March 31, DGSE posted a $798,000 loss. Clem called the results “disappointing” and said the company would continue to focus on the jewelry, watch, and diamond business now that the bullion and scrap market has cooled off.
Two members of the company’s five-person board of directors, Bruce A. Quinnell and Dennis A. McGill, have also resigned. The resignations are for personal reasons, unrelated to Clem’s resignation, a statement said.