Gold Fields appoints non-executive directors
Gold Fields Limited (Gold Fields) has appointed Alhassan Andani and Peter Bacchus as independent non-executive directors to the board of Gold Fields. This brings to four the number of new non-executive directors to the Gold Fields Board over the past two months.
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The appointment of Mr Andani takes effect on August 1, 2016 and that of Mr Bacchus on September 1, 2016. Earlier this month, Gold Fields announced that former KPMG Africa Chair Yunus Suleman will join the board on September 1, 2016, while Impala Platinum CEO Terence Goodlace joined as a director on July 1, 2016.
Gold Fields Chairperson Cheryl Carolus said the four new directors would ensure continuity of the skills set of the board as a number of the current directors were approaching retirement age in the next two years. Former director David Murray stepped down from the board on June 1, 2016.
“The new directors will provide the technical, financial, commercial and global mining experience necessary to help Gold Fields maintain and further strengthen its position as a global leader in sustainable gold mining,” Ms Carolus said.
Mr Andani is currently the Chief Executive and Executive Director of Stanbic Bank Ghana. He has held various directorship positions and is currently the Board Chairman of the Ghana CSIR (Council for Scientific & Industrial Research) and a director of SOS Villages Ghana. He holds a BSc in Agriculture from the University of Ghana and a Master’s Degree in Banking and Finance from the Finafrica Institute in Italy.
Mr Bacchus is the Global Head of Mining & Metals and Joint Head of European Investment Banking at investment bank Jefferies, based in London. Prior to this position, he was Global Head of Mining & Metals at Morgan Stanley and before then Head of Investment Banking, Industrials and Natural Resources at Citigroup.
Mr Bacchus has over 20 years experience in investment and corporate banking with a focus on the global natural resources sector. He is also a non-executive director of UK-listed mining group NordGold and a trustee of Space for Giants, an African-focused conservation charity. He is a qualified Chartered Accountant and holds a Master’s in Economics from Cambridge University, United Kingdom.
Gold Fields Limited is an un-hedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa, with attributable annual gold production of approximately 2.0 million ounces.
