Randgold CEO Bristow’s Total Pay Up 36% to $7.4 MillionThomas Biesheuvel
Mark Bristow, chief executive officer of Randgold Resources Ltd., received a 36 percent increase in total pay to $7.4 million in 2013 after a jump in long-term share payments.
His salary was $1.58 million and the CEO was paid a $2.57 million bonus, according to the company’s annual report released today. Payments under the long-term incentive plan more than doubled to $3.22 million.
Bristow, 55, is one of the highest-paid mining CEO’s among London-listed companies. In 2012, only the CEOs of BHP Billiton Plc and Rio Tinto Group, the world’s two biggest mining companies, earned more, according to data compiled by Bloomberg.
Bristow founded Randgold in the 1990s and it held an initial public offering in London in 1997. Under his stewardship, the company has grown to have a market value of 4.2 billion pounds ($7 billion) and become the U.K.’s largest gold producer. Investing in Randgold has generated a total return of 812 percent in the past decade.
Randgold operates gold mines in Mali, Ivory Coast and the Democratic Republic of Congo. It produced 910,374 ounces of gold last year and reported a profit of $278.4 million.