Gold Fields Limited (ADR) (NYSE:GFI) has announced that it has that it has appointed two new non-executive directors as part of its board.
The newly appointed non-executives are Peter Bacchus and Alhassan Andani. This is the fourth time that the company has announced the appointment of new directors in a span of two months. Mr. Andani’s appointment will take effect on 1 August this year while Mr. Bacchus appointment will be sealed on 1 September. The firm also announced earlier this month that Yunus Suleman, the former Chairman at KPMG Africa will take a position on the board on the same date as Bacchus. Terence Goodlace, the CEO of Impala Platinum Holdings also became a director earlier this month.
Cheryl Carolus, the chair lady for Gold Fields stated that the four new directors will make sure that the board maintains its rich portfolio of skill sets. This is because a significant number of the firm’s directors will retire in the next two years. The retirements have already commenced. David Murray who was a former director at the company retired from the board on 1 June this year. Carolus stated that the roles of the new directors will include offering their commercial, financial and technical experience. They will also offer their expertise in gold mining to the company so that they can uphold Gold Field’s strong position as a global leader in gold mining.
Mr. Bacchus currently mans the helm at Head of Mining & Metals. He is also one of the top leaders at Jefferies, a European investment bank based in London. Bacchus previously one of the heads of Global Head of Mining & Metals at Morgan Stanley (NYSE:MS). His resume also expands to Citigroup Inc (NYSE:C) where he was the head of the Industrials and Natural Resources division. Mr. Andani is the current Executive Director and CEO of Stanbic Bank in Ghana. His previous positions include director positions and he is the current board chairman at the Council For Scientific & industrial Research (CSIR) IN Ghana.
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