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Fin24 reports that Gold Fields announced on Monday that South African Mike Fraser would succeed interim CEO Martin Preece at the start of January, and that Fraser would be based in Johannesburg.
Preece has been steering the ship since the exit in late 2022 of Chris Griffith, who resigned after a deal to acquire Yamana Gold fell flat. Speaking on Monday, Fraser said he would shape the vision and strategy for the global gold mining house, which he planned to take to "the next level" through a keen focus on growing cash flows. Fraser previously served as an executive at the Australian giant BHP and COO of South32 before heading up a London-listed junior miner, Chaarat Gold Holdings. Gold Fields chair, Yunus Suleman, said the group had interviewed some 350 candidates over a 10-month process. "We were comfortable that his [Fraser's] strategic experience and his corporate experience, fits in well with the operating experience that we have at the exco level currently," Suleman said. Gold Fields' South Deep Mine is its only remaining operating asset in SA, but the company remains headquartered in SA with no plans to redomicile the business. Suleman said there are no plans either to restructure the business. He added that Preece would stay on as an executive committee member. Fraser will help oversee the appointment of a new CFO, following the retirement of Paul Schmidt, as was announced in August.
- Read the full original of the report in the above regard by Lisa Steyn at Fin24 (subscriber access only)
- See too, Gold Fields announces Mike Fraser as its new CEO, at BusinessLive
Get other news reports at the SA Labour News home page