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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,158,762
Close 2018-09-27 C$ 14.53
Market Cap C$ 16,958,816,812
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Globe says independent Barrick board member resigns

2018-09-28 07:55 ET - In the News

The Globe and Mail reports in its Friday edition that Barrick Gold independent director Nancy Lockhart resigned before the company announced its $6-billion (U.S.) takeover of African miner Randgold Resources. The Globe's Niall McGee and Rachelle Younglai write that Ms. Lockhart had been a board member since 2014 and was also chair of Barrick's corporate responsibility committee. On Monday, when Barrick unveiled the Randgold acquisition, Ms. Lockhart was not included in a regulatory document listing Barrick's 13 remaining directors, all of whom voted in favour of the deal. Andy Lloyd, a spokesman with Barrick, confirmed that Ms. Lockhart has resigned but declined to specify the exact timing. A source familiar with the situation said her departure was sudden. Before joining Barrick, Ms. Lockhart was chief administrative officer of property development and management company Frum Development Group for 18 years. As a Barrick director, she earned $215,000 in compensation last year. Ms. Lockhart was part of a group of four independent directors nominated in 2013 to help improve Barrick's board, which was being criticized for its too-close ties with founder Peter Munk, who died earlier this year.

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