Home » BLOG » Barrick Gold Corp cuts executive chairman John Thornton’s pay by 76% after investor criticism

Barrick Gold Corp cuts executive chairman John Thornton’s pay by 76% after investor criticism

Thornton "elected to forfeit all of the incentive compensation earned for 2015 in order to better reflect the experience of our shareholders last year," Barrick said in the filing.

Barrick Gold Corp.awarded Executive Chairman John Thornton US$3.08 million as a whole compensation, 76 percent under this past year, after he threw in the towel his bonus within the wake of investor criticism of pay packages at the world’s largest gold producer.

Thornton, 62, received a salary of US$2.5 million, US$204,090 in other compensation along with a pension value of US$375,000, the Toronto-based miner said Thursday in a regulatory filing. Thornton forfeited US$3.4 million of incentives for the year, the organization said. The compensation compares with US$12.9 million in 2014, which included US$9.5 million of incentive pay.

Thornton “elected to forfeit all of the incentive compensation earned for 2015 in order to better reflect the experience of our shareholders last year,” Barrick said in the filing.

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