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With the departure of Barrick’s CEO, chairman John Thornton is clearly holding the reins at the world’s largest gold miner.
With the departure of Barrick’s CEO, chairman John Thornton is clearly holding the reins at the world’s largest gold miner.
(Tim Fraser/Tim Fraser)

Barrick shakeup signals more changes ahead

The unusual new management structure at Barrick Gold Corp. signals two things – that John Thornton is now clearly in command of the world’s largest gold miner, and that more changes lie ahead.

The company announced Wednesday that president and CEO Jamie Sokalsky will be resigning in September, after only two years in the post. He was a favourite of company founder Peter Munk and his departure suggests that Mr. Thornton, who was named chairman only three months ago, is eager to put his own stamp on the company.