In normal times, putting Ned Goodman on the Barrick Gold Corp. board would not stand out. He’s a supporter of the company, a shareholder, a charter member of the Toronto gold bug crowd, and a backer of co-chairman John Thornton’s pay package.
Those, and more, are all reasons that putting Mr. Goodman on the Barrick board now is curious. Barrick is under fire for having a board that is too cozy and some shareholders were very upset that the board allowed Mr. Thornton’s pay to go through (the proof is in a sound defeat for the company on a say on pay vote this past spring.) So when Mr. Goodman says Mr. Thornton “got paid what he deserves” that’s going to rankle some of the shareholder base that he is now charged with representing.