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WAL's Gill Marcus joins Gold Fields board as nonexec director

14th February 2007

  

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Western Areas chairperson Gill Marcus had been appointed as a nonexecutive director of Gold Fields with immediate effect, the company said in a note to shareholders on Wednesday.

This follows a successful takeover bid by Gold Fields for the smaller gold-miner, which became a fait accompli in late January, after 94% of Western Areas shareholders tendered their shares into Gold Fields' all share offer of 35 of its own shares for every 100 Western Areas shares.

Gold Fields said on Monday that it had invoked the so-called squeeze-out clause, compulsorily acquiring the remaining shares held by Western Areas minorities.

It also said that it expected to terminate Western Areas' JSE listing on March 30.

Marcus (56) was chairperson of Western Areas Limited from November 17, 2005, to date and chairperson of the executive committee and member of the Placer Dome Western Areas JV board.

She was a member of the ANC National Executive Committee from 1991 to 1999, an MP from 1994 to 1999 and served as Deputy Minister of Finance from 1996 to 1999.

She served as deputy governor of the South African Reserve Bank from 1999 to 2004. She is professor: policy, leadership and gender studies at the Gordon Institute of Business Science, board member of Bidvest Limited and the International Marketing Council, and serves on the advisory board of the Auditor General.

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Edited by Liezel Hill

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