Gold Fields CEO Chris Griffith steps down; Martin Preece appointed interim CEO
Gold Fields Limited (JSE: GFI, NYSE: GFI) announces the resignation of CEO Chris Griffith, effective December 31, 2022. Chairperson Yunus Suleman expressed appreciation for Griffith's leadership, especially regarding the failed Yamana Gold transaction, which the company believed could have significantly enhanced shareholder value. Despite this setback, Gold Fields maintains strong performance and commitment to its strategic goals, including asset portfolio growth.
- Strong company performance and shareholder returns.
- Commitment to strategy and asset portfolio growth.
- Chris Griffith's resignation could lead to uncertainty.
- The failed Yamana Gold transaction may affect future growth prospects.
JOHANNESBURG, Dec. 13, 2022 /PRNewswire/ -- Gold Fields Limited (Gold Fields) (JSE: GFI) (NYSE: GFI) has announced that Chris Griffith will step down from the Board of Directors and as Chief Executive Officer (CEO) of Gold Fields, effective 31 December 2022.
Gold Fields Chairperson Yunus Suleman said: "We thank Chris for the commitment and dedication he showed as CEO of Gold Fields, especially during the Yamana Gold transaction. We were all disappointed that the Yamana deal did not go through, as we felt it was a compelling deal which would have created a strong company and created value for all our shareholders. The company is performing well, delivering strong shareholder returns and we continue to deliver on the strategy, including growing the value and quality of our portfolio of assets."
A full media release is available on the company website: www.goldfields.com
Notes to editors
About Martin Preece
Martin Preece joined Gold Fields as Executive Vice President: South Africa in May 2017. He previously held the position of Chief Operating Officer at De Beers South Africa. Martin has 37 years of mining experience, starting his career as a learner miner and gradually building up his experience before taking up mine manager positions at various operations. After moving to Group level at De Beers he held positions as mine strategist and business development manager before becoming COO.
About Gold Fields
Gold Fields Limited is a globally diversified gold producer with nine operating mines in Australia, Peru, South Africa, and West Africa (including the Asanko Joint Venture) and one project in Chile. We have total attributable annual gold-equivalent production of 2.34Mo, attributable gold-equivalent Mineral Reserves of 48.6Moz and gold Mineral Resources of 111.8Moz. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary share trade on the New York Stock Exchange (NYSE).
For more information, please contact:
Gold Fields Investors
Avishkar Nagaser, EVP, Investor Relations and Corporate Affairs
Tel: +27 11 562 9775; Mobile: +27 82 312 8692
Email: Avishkar.Nagaser@goldfields.com
Thomas Mengel, Manager, Investor Relations
Tel: +27 11 562 9849; Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com
Gold Fields Media
Sven Lunsche, Vice President, Corporate Affairs
Tel: +27 11 562 9763; Mobile: +27 83 2609279
Email: Sven.Lunsche@goldfields.com
Media
Brunswick Group (Communications advisor to Gold Fields)
Johannesburg: Timothy Schultz
Tel: +27 82 309 2497
London: Tom Pigott
Tel: +44 20 7404 5959
North America: Nikki Ritchie
Tel: +1 (845) 682-9850
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Forward-looking statements
This announcement contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this announcement may be forward-looking statements. Forward-looking statements may be identified by the use of words such as "aim", "anticipate", "will", "would", "expect", "may", "could" "believe", "target", "estimate", "project" and words of similar meaning.
These forward-looking statements, including among others, those relating to Gold Fields' future business prospects, production and operational expectations, strategy and leadership appointments, are necessarily estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in Gold Fields' annual report on Form 20-F filed with the United States Securities and Exchange Commission on 31 March 2022. Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events.
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SOURCE Gold Fields Limited
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