JOHANNESBURG, Aug. 21, 2013 /CNW/ - The Chair of Gold Fields Limited
(Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI), Ms Cheryl Carolus,
announces that following a review of the composition of the Board of
Directors, in light of the Company's new strategic direction (including
the unbundling of Sibanye Gold Limited to shareholders earlier this
year) and the challenges presented by the current low gold price and
high cost operating environment, the Board has decided to reduce the
number of directors from 12 to nine.
Following discussions with the Board and the Nominating and Governance
Committee, Messrs Delfin Lazaro, Roberto Dañino and Rupert Pennant-Rea
volunteered to resign as non-executive directors and have agreed to
step down from the Board with immediate effect.
On behalf of the Board, the Chair would like to express appreciation for
the time and effort that each of the departing non-executive directors
has put into the Company for the benefit of all its stakeholders.
Messrs Pennant-Rea and Dañino acted as the Chairs of the Remuneration
Committee and Social and Ethics Committee respectively. Mr Lazaro has
done an admirable job in representing the Company's interests in the
Philippines and he will continue to do so following his resignation. We
greatly appreciate that each of our departing non-executive directors
has sought to bring their experience and expertise to a range of
matters over the time they have been with the Company.
The Chair announces that non-executive director Mr Donald Ncube will
assume the role of the Chair of the Social and Ethics Committee and
non-executive director Mr Alan Hill will assume the role of the Chair
of the Remuneration Committee.
The Board believes that its new composition will more appropriately
reflect the needs of the Company and is confident that it will continue
to be able to perform its duties for the benefit of all stakeholders.
Notes to editors
About Gold Fields
Gold Fields is a significant unhedged producer of gold with attributable
annualised production of approximately 2.0 million gold equivalent
ounces from six operating mines in Australia, Ghana, Peru and South
Africa. Gold Fields also has an extensive and diverse global growth
pipeline with four major projects at resource development and
feasibility level. Gold Fields has total managed gold-equivalent
Mineral Reserves of 64 million ounces and Mineral Resources of 155
million ounces. Gold Fields is listed on the JSE Limited (primary
listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited,
Euronext in Brussels (NYX) and the Swiss Exchange (SWX). In February
2013, Gold Fields unbundled its KDC and Beatrix mines in South Africa
into an independent and separately listed company, Sibanye Gold.
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE: Gold Fields Limited
For further information: