June 18, 2013
The impact of (Barrick’s) shareholders’ massive say-on-pay vote rejection of new co-chair John Thornton’s huge bonus deal doesn’t end with Barrick Gold. Boards across Canada will be feeling it, too.
The Barrick vote stresses the need for companies to beef up their shareholder communications, adds Lynne Lacoursière, an (associate) at Torys who follows executive compensation issues. “I think it’s really just using your disclosure as your key tool to explain to shareholders what your compensation package is and your reasons behind the decision and the philosophy. Disclosure is a powerful tool to get your point across.”
Read the full article here.