Barrick Gold Corp. shareholders, who last year revolted over the mining company’s executive pay, should vote in favor of its latest compensation plan and director nominations, said proxy advisory service Institutional Shareholder Services Inc.
Barrick Gold Corp., criticized by investors for its pay practices as the stock plunged, cut compensation for co-Chairman John Thornton and Chief Executive Officer Jamie Sokalsky, and will force them to hold their shares as long as they work for the gold miner.
Peter Munk built Barrick Gold Corp. into the world’s largest gold producer by expanding into Africa and South America. Now former Goldman Sachs Group Inc. President John Thornton is betting on China to help revive the beleaguered company’s fortunes.
– Barrick Gold Corp. founder Peter Munk sees a successor in former Goldman Sachs Group Inc. President John Thornton as the world’s biggest gold miner tries to reverse a 54 percent plunge in market value in the past year.
Barrick Gold Corp. investors including Canada’s six biggest pension fund managers criticized as excessive a $11.9 million signing bonus paid to John Thornton, co-chairman of the world’s biggest gold producer.
Barrick Gold Corp. said founder Peter Munk will retire after more than 30 years with the world’s biggest gold producer and it nominated four new directors after some investors criticized the independence of its board.
Stephen Green plans to step down as executive chairman at HSBC Holdings Plc later this year and will be succeeded by John Thornton , the Sunday Telegraph reported, without saying where it obtained the information.