The Globe and Mail reports in its Thursday edition Barrick Gold chairman John Thornton eliminated the chief executive officer position in a management shakeup that sees Jamie Sokalsky leave as CEO and cements the former banker's authority at the top of the world's biggest gold producer. The Globe's Rachelle Younglai writes Mr. Sokalsky will step down in September and be replaced by two of the company's senior managers, Kelvin Dushnisky and Jim Gowans, who have been promoted to co-presidents in charge of operations and strategy. Barrick's chief financial officer Ammar Al-Joundi will gain a senior executive title, which formalizes the close working relationship the CFO has developed with Mr. Thornton. The shakeup lays bare the tenuous relationship between Mr. Sokalsky and the new chairman. Under the new structure, Mr. Al-Joundi will work with Mr. Thornton to develop "strategic initiatives." When Barrick and Newmont Mining were in merger talks earlier this year, Mr. Thornton relied more on Mr. Al-Joundi instead of Mr. Sokalsky. The former banker rebuffed suggestions that it was a move to consolidate power. "My job hasn't changed one iota," Mr. Thornton said. "My role is the same as yesterday."