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Gold Fields executive VP resigns

20th January 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Gold producer Gold Fields on Monday announced the resignation of executive VP and general council Michael Fleischer with effect from January 31.

Upon this date, he would resign from all roles and responsibilities within the company and its affiliates.

Gold Fields said it would start a process to identify a successor, adding that it was committed to hiring a person that could help to implement the planned changes to its South Deep black economic-empowerment (BEE) transaction.

In August the company reported that, following an examination by the board, it had decided that while the BEE transaction would be of lasting benefit to shareholders, it did not meet the high standards set by Gold Fields.

Areas identified by the board for further attention included the strengthening of policies to increase transparency and to improve the timeliness of internal communications between management and the board.

Further, in appointing Fleischer’s successor, Gold Fields would also look for a person that could deliver upon the company’s objectives for the benefit of all stakeholders.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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