Barrick hints at Munk's retirement

摘要

It seems Peter Munk's days at the helm of Barrick Gold might actually be coming to an end. In a regulatory filing related to the company's current US$3-billion equity raise, Barrick said it is working to address shareholder concerns and indicated that Munk will likely bow out before the next annual general meeting, scheduled for April. "The board is addressing the issues that have been raised with our directors, which include modification of the company's executive-compensation arrangements and the rejuvenation of the board through a combination of departures from the board, the addition of independent directors and a succession in the chairman role at the company, consistent with Mr. Munk's desire to retire," the filing said. "The company's intention is to update the market before year-end on these initiatives, with governance changes expected to take effect in conjunction with Barrick's next annual meeting."