David Walsh, chief executive officer of Calgary-based Bre-X Minerals, has been named the top executive of all companies listed on the Toronto Stock Exchange.
Compiled by Heidrick & Struggles, a firm that recruits executives, the first-annual list ranks those chief executive officers of companies listed on the exchange’s 300 Composite Index who provided the greatest return to their shareholders in 1996. Based on a formula of share appreciation plus dividends and expressed as a percentage, Bre-X had a total shareholder return of 316%.
The company currently holds rights to the multi-million-ounce Busang gold deposit in Indonesia.
Other mining CEOs on the list include Rudi Fronk of Greenstone Resources (No.
2) and Clive Johnson of Bema Gold (No. 5). Shareholder returns for those companies were 303.8% and 205.7%, respectively.
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