Barrick faces fresh opposition to executive pay plan – Mining.com

April 24, 2015

Canada’s largest pension fund manager will vote against Barrick Gold’s (TSE, NYSE:ABX) executive pay structure and withhold its vote for the miner’s lead director and chairman of its compensation committee.

Toronto-based Canada Pension Plan Investment Board (CPPIB) told Reuters Friday it plans to oppose the gold miner’s executive compensation structure when discussed next week, at the annual shareholder meeting.

“We continue to be concerned with the company’s practice of granting outsized awards on a largely discretionary basis, which we believe is inconsistent with the governance principle of pay-for-performance,” CPPIB said in an emailed statement.

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