Hongyu Cai Joins Barrick Board

Rhea-AI Summary

Barrick Gold Corporation (NYSE:GOLD) appointed Hongyu Cai as an independent director, enhancing its Board with her extensive finance and investment experience. A graduate of MIT, Ms. Cai has nearly 20 years of experience, having worked at Goldman Sachs and CICC, where she excelled in equity research and led significant M&A projects. Chairman John Thornton highlighted her expertise in equity markets and corporate finance, anticipating that her insights will bolster Barrick's strategic interests, particularly in China, a major player in gold production and consumption.

Positive

• Appointment of Hongyu Cai as an independent director brings significant finance and investment expertise.
• Ms. Cai's experience in both American and Chinese capital markets could foster strategic collaborations.

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• None.

LONDON, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today announced the appointment of Hongyu Cai to its Board as an independent director.

Ms Cai is a finance and investment professional with close to two decades of experience. After graduating from Massachusetts Institute of Technology (MIT), she worked firstly with Goldman Sachs Group (GS) in the United States and then with China International Capital Corporation (CICC) in the Greater China region until spring 2021.

When covering the American natural resources sector in New York with GS as an equity research analyst, Ms Cai was highly ranked by StarMine. Subsequently, she followed the US technology sector. At CICC, as a managing director, she expanded her scope, from metals and mining and basic material, to advanced manufacturing and tech-enabled industry upgrades. Ms Cai was ranked as Best Analyst by Institutional Investor and Asia Money in their China Research Sector Polls for multiple years. The cross-border financing and M&A tractions she led at CICC also won various awards from Asia Money and The Asset.

She is a Chartered Financial Analyst and Chartered Alternative Investment Analyst and was educated at Tsinghua University in China and MIT in the US, with two master’s degrees from MIT and multiple fellowship awards.

Executive chairman John Thornton said Ms Cai was extensively versed in equity markets and all aspects of corporate finance, from strategic planning to M&A transactions. “Her experience in both the American and Chinese capital markets will bring a unique perspective to the Board, particularly given China’s position as a leading producer and consumer of gold, and the biggest driver of copper demand in the world. Our strategic partnership with Chinese mining companies in Argentina and Papua New Guinea sets a good precedent for effective collaboration in future,” he said.

Enquiries:

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

FAQ

Who is the new independent director of Barrick Gold Corporation?

Hongyu Cai has been appointed as the new independent director.

What experience does Hongyu Cai bring to Barrick Gold?

Hongyu Cai brings nearly 20 years of experience in finance and investment, previously working at Goldman Sachs and CICC.

What significance does Hongyu Cai's appointment have for Barrick Gold?

Her appointment is expected to enhance strategic insights, especially regarding collaborations in China.

What is Barrick Gold's stock symbol?

Barrick Gold's stock symbol is GOLD.