The British Columbia Investment Management Corp. said on April 4, 2019 it will vote against the proposed merger of Goldcorp Inc. and Newmont Mining Corp., highlighting its disapproval of a $US12 million retirement allowance for Goldcorp’s chair.

“The retirement allowance is almost triple the previously disclosed entitlement of US$4.5 million,” said the BCI in a press release. “This is inconsistent with the governance principle of pay-for-performance and sets a troubling precedent in the capital markets.”

As a long-term investor, the BCI highlighted the value it places on good corporate governance, noting compensation practices are a key component. Read Full Article - Canadian Investment Review, March 27, 2019