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Incoming Barrick Gold executive chairman John Thornton became a lightning rod for unhappy Barrick investors when it was revealed he had received $17-billion in compensation.
Incoming Barrick Gold executive chairman John Thornton became a lightning rod for unhappy Barrick investors when it was revealed he had received $17-billion in compensation.
(Tim Fraser/Tim Fraser)

Barrick pay practices need to better reflect performance

Barrick Gold Corp. is still no poster child for corporate governance best practices. But with its latest changes to its approach to compensating its top executives, it is now addressing head-on an issue that has become both a major distraction and a major impediment to getting its ailing business back on track. Until the pay packets start to look more in line with the company’s earnings and stock performance, though, investors may not be convinced it’s enough.