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The Canada Pension Plan Investment Board (CPPIB) has said it will vote against the executive pay structure at the world’s largest gold company, Barrick Gold Corp., Reuters reports.
The CPPIB intends to oppose the advisory vote on executive compensation that Barrick will hold at its annual shareholder meeting next week.
Other pension funds have also expressed opposition to executive overcompensation at Barrick Gold. They include the Ontario Teachers’ Pension Plan, the British Columbia Investment Management Corporation and PGGM Vermogensbeheer B.V. in the Netherlands, one of Europe’s biggest pension fund managers.
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