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Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,081,379
Close 2016-04-08 C$ 19.75
Market Cap C$ 23,010,357,235
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Globe says Onex, others see cuts to CEO pay

2016-04-11 08:41 ET - In the News

See In the News (C-OCX) Onex Corp

The Globe and Mail reports in its Monday edition that the new crop of bank CEOs are being paid less than their predecessors as shareholders apply pressure for moderation and demand clearer linkage to performance. The Globe's Janet McFarland writes that a review of pay for chief executive officers at Canada's five largest banks shows CEOs were paid median total direct compensation of $9.28-million in 2015, a 14-per-cent decline from $10.75-million in 2012. The big banks are not the only companies in Canada showing signs of at least some pay moderation. Onex CEO Gerry Schwartz, who is often at the top of Canada's CEO pay chart, took home a total of $9.2-million in 2015, a far cry from $125-million in 2014 when he reaped $106-million in payouts from his co-ownership stake in Onex investments. Barrick Gold chairman John Thornton had a $10-million pay cut last year, while the CEOs of both Magna International and Shaw Communications -- who also both often make the top tiers of CEO pay charts -- saw their pay fall modestly in 2015. Some experts say the best way to look at CEO pay is through a long-term view that adds up all payouts from equity grants or stock options over the tenure of the CEO.

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