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Miningmx reports that according to Gold Fields chairman Yunus Suleman, it was CEO Chris Griffith’s decision to leave the gold producer rather than a fallout or a major bust up with the board.
Suleman added that Gold Fields’ strategy of finding a replacement deal for its failed bid for Yamana Gold in November remained intact, even though it might take up to 12 months to appoint a new, full-time CEO. “We agreed the Yamana setback should not be allowed to impede the company’s strategy so as CEO Chris felt he should take responsibility and allow the company to move forward under new leadership unencumbered by the Yamana transaction,” Suleman explained. He advised that headhunters had been engaged to find a new CEO and that the board would also consider internal candidates. Interim CEO, Martin Preece, who is currently running Gold Fields’ South Deep mine, indicated in response to a media question that he would “take the weekend” to decide whether he wanted to apply for the job full time. Asked if the company, having lost up to two-thirds of its executive team in the last three months, was vulnerable to a hostile takeover, Suleman said he did not think so. Gold Fields’ executive team has been hollowed out. In addition to the departure of Griffith, the firm’s top legal executive, its head of strategy, and its head of corporate affairs have all announced decisions to leave the company by April. Suleman said those executive positions were expected to be filled by April.
- Read the full original of the report in the above regard by David McKay at Miningmx
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