07:32:37 EDT Thu 18 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,902,835
Close 2018-07-24 C$ 15.60
Market Cap C$ 18,203,684,226
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Globe says Barrick's No. 2 exec departs for AngloGold

2018-07-24 06:53 ET - In the News

The Globe and Mail reports in its Tuesday edition that Barrick Gold is losing its No. 2 executive. The Globe's Niall McGee writes that after a 16-year run at Barrick, Kelvin Dushnisky is leaving his role as president to become chief executive officer of South Africa's AngloGold Ashanti. His departure comes just as Barrick is struggling with a dwindling reserve base, locked in a geopolitical standoff in Tanzania and grappling with a flat gold price. Barrick said it would name a successor for Mr. Dushnisky in "due course." Shares in Barrick, which are down 13 per cent this year, fell by 4.3 per cent Monday to close at $15.54 apiece on the Toronto Stock Exchange. Mr. Dushnisky, 55, joined Barrick in 2002, as a government lobbyist. He rose through Barrick's ranks and was appointed co-president in 2014, alongside Jim Gowans. In 2015, he was named sole president after Mr. Gowans left. On Monday, Barrick's executive chairman, John Thornton, praised Mr. Dushnisky. At annual meetings, it was Mr. Dushnisky, not Mr. Thornton, for example, who took sometimes-irate questions directly from shareholders. Mr. Dushnisky also handled quarterly conference calls with analysts, but his pay was considerably less than Mr. Thornton's.

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