MAC/20: Mines and Communities

Barrick CEO's compensation received big bump in 2006

Published by MAC on 2007-03-30

Barrick CEO's compensation received big bump in 2006

ANDY HOFFMAN, Toronto Globe & Mail

30th March 2007

Barrick Gold Corp. president and chief executive officer Greg Wilkins' pay package nearly doubled to $9.4-million (U.S.) in 2006, a year that saw the gold giant's share price lag the increase in the price of gold. The mining executive took home $1.2-million in salary, a $3-million bonus, $1.7-million worth of stock options and $2.65-million in restricted share units, according to a filing with U.S. and Canadian securities regulators.

Including $707,381 in company contributions to his retirement plan, Mr. Wilkins' compensation totalled $9.4-million last year, a 90-per-cent increase from $4.9-million in 2005. Spot gold prices rose 30 per cent in 2006, and Barrick shares 13 per cent. ABX (TSX) fell 12 cents (Canadian) to $33.4.

 

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