01:25:10 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,708
Close 2015-06-05 C$ 14.24
Market Cap C$ 16,584,896,642
Recent Sedar Documents

Globe says Yamana, others get low say-on-pay results

2015-06-08 08:56 ET - In the News

See In the News (C-YRI) Yamana Gold Inc

The Globe and Mail reports in its Saturday edition shareholders are growing more militant in their opposition to lavish executive pay. The Globe's Janet McFarland writes the two lowest say-on-pay votes this year -- at Barrick and Yamana -- both involved gold miners that operate in a sector that has historically had high executive pay. An analysis of pay and performance shows five of the eight companies with the greatest mismatch of above-average pay and below-average performance over the past five years are in the gold sector. Yamana garnered just 37-per-cent support on its say-on-pay vote this year after investors opposed a special $2.7-million cash bonus and an award of share units for chief executive officer Peter Marrone for concluding a takeover of Osisko Mining Corp. A third gold miner, Agnico Eagle Mines, got 77-per-cent support this year in its say-on-pay vote, which is well below the Canadian average. Catherine Jackson, senior adviser at giant Dutch pension fund PGGM, said the fund is increasingly voting against pay plans at many companies, but especially when it does not believe they are sincerely trying to make significant reforms. "The gold sector has a long way to go," Ms. Jackson said.

© 2024 Canjex Publishing Ltd. All rights reserved.