TORONTO Dec 17 Barrick Gold Corp said in a surprise announcement on Tuesday that two long-time directors, Donald Carty and Robert Franklin, have resigned from the company's board with immediate effect.
The announcement comes less than two weeks after the world's largest gold producer announced a major boardroom shake-up, and the planned departure of its founder and chairman, Peter Munk.
Barrick Gold, under fire for missteps in a tough market, began to address investor demands for a more independent board earlier this month, by replacing two directors close to its departing founder with a couple of mining industry experts.
As widely expected, Barrick confirmed at the time that Co-Chair John Thornton would replace 86-year-old chairman and founder Peter Munk this spring. It also announced that former Canadian Prime Minister Brian Mulroney and retired lawyer Howard Beck, both long-term directors, will not stand for re-election at the next annual meeting.
Barrick did not give a reason for the departures of Franklin and Carty, both of whom joined its board in 2006, when the company acquired Placer Dome.