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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