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Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,708
Close 2015-03-27 C$ 14.21
Market Cap C$ 16,549,956,551
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Globe says Barrick hires Baird, Gingrich

2015-03-30 09:19 ET - In the News

The Globe and Mail reports in its Saturday edition Barrick Gold has hired former foreign affairs minister John Baird and former top U.S. lawmaker Newt Gingrich. The Globe's Rachelle Younglai writes Barrick also gave its chairman John Thornton a pay raise amid a severe slump in bullion prices. Since Mr. Thornton took over as chairman last April, nearly every executive has been replaced, the board has been overhauled and plans have been laid out to bring Barrick back to its roots, when it had a streamlined corporate structure and a healthy balance sheet. Barrick increased Mr. Thornton's pay to $12.9-million (U.S.) for 2014, compared with $9.5- million in the previous year. Company co-president Kelvin Dushnisky earned $4.8-million, while his counterpart Jim Gowans earned $7.3-million last year. The miner's stock is trading around $14.20 a share, down 25 per cent since Mr. Thornton took the reins of the company. Mr. Thornton, other managers and company founder Peter Munk have all loaded up on the miner's stock. Most of Mr. Munk's people have departed Barrick. Mr. Munk and longest-serving directors William Birchall and Brian Mulroney will continue to have ties to the gold miner.

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