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Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,758
Close 2015-07-23 C$ 9.21
Market Cap C$ 10,726,608,471
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Globe says Goodman quits Barrick board after 15 months

2015-07-24 08:06 ET - In the News

The Globe and Mail reports in its Friday edition after a 15-month run, Ned Goodman is stepping down as a board member of Barrick Gold. The Globe's Niall McGee quotes a Barrick spokesman as saying in a statement, "He is starting a new company in the resource space that presents a potential conflict with his role on Barrick's board." Mr. Goodman, the founder of asset management and brokerage firm Dundee Corp., joined Barrick's board in April, 2014, and was paid $144,000 last year. Mr. Goodman, now in his late-70s, still serves as a director with Dundee. He was appointed to the Barrick board "primarily on the encouragement of Peter Munk," said Kerry Smith, an analyst with Haywood Securities. With Mr. Munk no longer at the helm, one of his biggest champions is gone. "With John Thornton now running things, I suppose Ned's maybe finding that it's not exactly what he thought it might be," Mr. Smith said. Another analyst said Mr. Goodman's resignation relatively soon after being appointed pointed to "possible friction" with Mr. Thornton. Mr. Goodman is the second independent director to quit Barrick's board this year. In May, David Naylor, a long-term academic, stepped down.

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