Barrick selling research and development firm AuTec
Canada’s Barrick Gold (ASX, NYSE:ABX), the world’s No.1 gold miner, is selling research and development company AuTec and laying off executives hired to lead what the Toronto-based company had called a digital reinvention.
Barrick, which in September decided to eliminate the executive role of Chief Innovation Officer, is in the midst of merging with Africa’s Randgold Resources (LON:RSS) and incoming CEO Mark Bristow has announced his intention to offload non-core assets, reduce costs and cut head office management in an attempt to delegate more authority to regional mining operations.
AuTec, WSJ reports, will be one of the first assets to go.
The position of Chief Digital Officer was created in August and former GE executive Sham Chotai was appointed to it. He’s said to have already left the company.
More to come…
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