Barrick shareholders reject executive compensation plan - chairman

Tue Apr 28, 2015 10:28am EDT
 
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TORONTO, April 28 (Reuters) - Barrick Gold Corp's shareholders have voted to reject the gold miner's controversial executive compensation plan, Barrick Executive Chairman John Thornton said on Tuesday.

Although the final tally of votes on the non-binding say-on-pay vote is not yet in, Thornton said early indications are that some 75 percent of shareholders who voted rejected the pay plan.

Although so-called say-on-pay votes are not mandatory in Canada and companies are not required to take any action on the outcome, they are an important barometer of investor attitudes. (Reporting by Euan Rocha in Toronto; Writing by Nicole Mordant in Vancouver)