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UPDATE 1-Barrick Gold director Goodman quits to avoid conflicts

Published 2015-07-23, 12:08 p/m
© Reuters. UPDATE 1-Barrick Gold director Goodman quits to avoid conflicts
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(Adds Barrick spokesman's comment, updates share price))
TORONTO, July 23 (Reuters) - Barrick Gold Corp ABX.TO , the
world's largest bullion producer, said on Thursday that Ned
Goodman has resigned from its board to focus on a new business
in the resource sector.
The move thins the ranks of directors with mining experience
on Barrick's board. The company named Goodman, a veteran
Canadian money manager with resource-sector experience, as a
board nominee in December 2013 after shareholders complained
that the board lacked independence and directors with a
background in mining.
The board will consider a replacement for Goodman "in due
course," Barrick spokesman Andy Lloyd said in an email.
He said Goodman had resigned due to the potential for
conflicts between his new business venture and Barrick.
In June, Goodman became chairman of Oban Mining Corp
OBM.TO , a venture that brings together five Canadian gold
exploration and development companies and several mining sector
veterans. ID:nMKWFySqRa
Barrick shares were down 3.8 percent at C$9.23 on the
Toronto Stock Exchange on Thursday, in line with other gold
stocks.

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