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Barrick Gold's Chairman and Founder Peter Munk wears his trademark hat as he arrives at the mining company's announcement of their first quarter results in Toronto on Wednesday April 24, 2013.
Barrick Gold's Chairman and Founder Peter Munk wears his trademark hat as he arrives at the mining company's announcement of their first quarter results in Toronto on Wednesday April 24, 2013.
(Chris Young/CP)

Life after Munk: Barrick will need to keep cutting

Barrick Gold Corp.’s restless investors are getting what they wanted: change, which comes in the form of Peter Munk’s retirement. Now what?

Sources say that Mr. Munk, the founder of the world’s biggest (and, lately, most publicly battered) gold company, is about to announce his long-expected departure as chairman, effective at Barrick’s annual meeting in the spring. Word is the company will also announce other board changes, and will appoint a chief operating officer.