Barrick says Munk to step down, two other directors out

Wed Dec 4, 2013 4:24pm EST
 
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TORONTO Dec 4 (Reuters) - Barrick Gold Corp confirmed on Wednesday that 86-year old chairman and founder Peter Munk will leave the board at the gold miner's next annual meeting in the spring, and announced two other departures from its board.

Directors Brian Mulroney and Howard Beck will not stand for re-election at the next meeting. The company announced four new board nominees: Ned Goodman, Nancy Lockhart, David Naylor and Ernie Thrasher.

Some shareholders have complained that Barrick's board lacks independence, being too easily swayed by Munk, and the company had been promising changes at the board for several months.