Billionaire John Paulson targets gold-mining CEOs over pay


By Anders Melin, Danielle Bochove, and Luzi-Ann Javier
Bloomberg News
Tuesday, September 26, 2017

Billionaire John Paulson is building a coalition of major investors in some of the world's top gold producers to curb years of "value destruction" and excessive executive compensation in the industry.

"The days of CEOs getting rich while shareholders lose has got to end," Paulson said Tuesday in an emailed statement ahead of a presentation by Paulson & Co. at the Denver Gold Forum. "Management must be accountable."

The group, to be named the Shareholder's Gold Council, aims to unify and amplify the voices of institutional investors on matters including board appointments, pay plans, and merger activity, said Marcelo Kim, a partner at the hedge fund firm who oversees investments in natural resources. ...

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