Institutions oppose Barrick Gold co-Chairman compensation

MONTREAL, April 19, 2013 /CNW Telbec/ - The undersigned institutional 
investors who collectively steward assets of$916 billion,are concerned by 
the decision of Barrick Gold Corporation to award an $11.9-million 
bonuspayment to their co-Chairman, JohnL.Thornton, appointed in June 
2012. This amount, for a signing bonus for a co-Chairman of the Board is, to 
our knowledge, unprecedented in Canada and is in addition to other 
compensation for the year for a total package of $17 million in 2012. This 
compensation is inconsistent with the governance principle of 
pay-for-performance and is therefore disproportionate and sets a troubling 
precedent in Canadian capital markets. 
Accordingly, the undersigned will vote against both the Advisory Resolution on 
Executive Compensation and the election of the members of the Compensation 
Committee at the Barrick Gold Annual General Meeting. We have expressed our 
concern in a letter to the Chairman of the Board. 
The undersigned represent seven of the largest institutional investors in 
Canada. Hermes Equity Ownership Services (Hermes - EOS) represents assets on 
behalf of more than 30 major institutional funds worldwide. 

    --  Alberta Investment Management Corp. (AIMCo)
    --  British Columbia Investment Management Corporation (bcIMC)
    --  Caisse de dépôt et placement du Québec (CDPQ)
    --  Canada Pension Plan Investment Board (CPPIB)
    --  Hermes Equity Ownership Services (Hermes - EOS)
    --  Ontario Municipal Employees Retirement System (OMERS)
    --  Ontario Teachers' Pension Plan (OTTP)
    --  Public Sector Pension Investment Board (PSP Investments)

Marie Giguère Executive Vice-President, Legal Affairs and Secretariat Caisse 
de dépôt et placement du Québec 514-847-2898.


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CO: PSP Investments
ST: Quebec

-0- Apr/19/2013 14:31 GMT

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