Newmont Mining Corporation - Executive and Director Compensation 2011 | Mining University

Newmont Mining Corporation - Executive and Director Compensation 2011

Executive compensation for Newmont senior leadership is slightly higher than other global mining companies.  This may be due to the size of Newmont Mining Corporation or to their desire to be 'THE' gold mining company.  I did appreciate that the CEO was compensated less in 2011 than in 2010.  People paid so highly for their performance need to be able to accept 'down' years.  Although, if my 'down' year was in the 10 million dollar range I think I could still muddle through.

Two of the board members for Newmont have mining experience (or at least geology degrees).  They are: Joseph A. Carrabba and Simon R. Thompson.  Mr. Carrabba has a geology degree from Capital University.  He was CEO of Cliffs Natural Resources and COO of Diavik Diamond Mines.  Mr. Thompson was CEO of Anglo American and a director of AngloGold Ashanti.  He has a masters degree in geology from Oxford University.  It's good to see two board members have a background and education in mining and earth science.

Newmont CEO Richard T. O'Brien has a bachelor degree in economics and a law degree from Lewis and Clark College.  He has extensive executive experience (mostly with Newmont) but where is his experience with dirt?  Where are the CEO's of mining companies who have experience as mine engineers or geologists?

Executive Compensation 2011

Richard T. O'Brien - President and CEO: $10,084,181
Russell Ball - CFO: $4,580,709
Randy Engel - VP Strategic Development: $4,413,421
Brian Hill - VP Operations: $4,061,138
Guy Lansdown - VP Discovery and Development: $4,821,464

Director Compensation 2011

Glen A. Barton: $244,000
Bruce R. Brook: $147,000
Vincent A. Calarco: $495,000
Joseph A. Carrabba: $238,000
Noreen Doyle: $268,000
Veronica M. Hagen: $242,000
Michael S. Hamson: $235,000
Jane Nelson: $149,000
John B. Prescott: $238,000
Donald C. Roth: $264,000
Simon R. Thompson: $242,000

Executive Compensation for other Mining Companies:

Rio Tinto Executive and Director Compensation 2011
Cameco - Management Proxy Circular
Gold Fields Annual Report 2011
Barrick Annual Shareholder Meeting
Kinross Compensation for Senior Leadership

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