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In a letter to shareholders, Peter Munk signals he is looking for a successor as chairman of...

In a letter to shareholders, Peter Munk signals he is looking for a successor as chairman of Barrick Gold (ABX -0.9%), and seems to point to current co-chairman John Thornton as a top contender. While Munk has earned credit for creating the world's largest gold miner from scratch, ABX management has been under pressure to increase returns for shareholders.
Comments (1)
  • TDWelander
    , contributor
    Comments (639) | Send Message
     
    So I read the income, revenues, and cash flow statements slowly and carefully. Even with the increased costs, they are still impressive. I also read the litigation descriptions at the back. Practically all appear frivolous, with any accommodation, should be resolvable without any impacts on operations. Or no impairment charges yet considered. Congratulations to Barrick for making 2012, a challenging year, look like business as usual. Lessons learned appear to be in place. Years 2013 and 2014 appear to be hunker down or laser focus years to complete long standing, highly profitable capital projects.
    26 Mar 2013, 07:02 PM Reply Like
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